Najib, companies involved in RM42m transfers all 'happy' before trial - Prosecution

NAJIB TRIAL | Companies that were allegedly involved in the transfers of RM42 million from SRC International until it reached Najib Abdul Razak's AmBank accounts were "all quite happy" until the former premier was charged in court, the Kuala Lumpur High Court heard today.

During the prosecution's submission, DPP V Sithambaram said only Najib had disputed the authenticity of his signatures that authorised transfers of RM32 million out from his accounts in December 2014 and February 2015.

Even then, the counsel argued, the issue raised about Najib's signatures was a mere afterthought as Najib had never raised any complaint regarding the huge debits prior to the trial.

According to Sithambaram, transfers of the RM42 million from SRC International and Gandingan Mentari Sdn Bhd using e-signatures, or cut-and-paste signatures as put by the defence, had never been disputed by the companies.

"The bank was authorised to accept such signature as per the letter of indemnity and confirmed by (former AmBank relationship manager) Joanna Yu.

"There has never been any allegation of wrongful debit or credit of monies out of SRC International and GMSB based on this 'cut-and-paste' signature.

"The failure to dispute the cut-and-paste signature is an acknowledgement by the said companies that the funds in millions were transacted with the consent and authority of the respective companies.

"To-date, the transfer of these millions of dollars has not been challenged by SRC and GMSB. Only the accused is disputing the signature at this trial.

"Nobody has taken any action and were all quite happy until this trial started. I submit that this is purely an afterthought," Sithambaram said.

Money 'used up'

The prosecution also disputed the defence's claim that it could be Jho Low who forged Najib's signature on banking documents, which affected in the RM32 million 'reversal' to Permai Binaraya Sdn Bhd (RM27 million) and Putra Perdana Construction Sdn Bhd (RM5 million).

For the record, during Yu's cross-examination, the defence had attempted to establish that the RM32 million reversal was engineered by Low.

Sithambaram submitted that Najib knew about the reversal as bank statements were forwarded to mandate holder of his accounts (Nik Faisal Ariff Kamil), but did not sue the bank for wrongful debit.

"Even when the accused closed his account in March 2015, he had not raised a query to the bank as to the 'missing' RM32 million from his account.

"The accused, therefore, cannot blow hot and cold by on one hand contending that it was a 'reversal', and on the other hand contending that he knows nothing of this 'reversal' as he had not signed P277 (the documents)."

The court also heard that monies that were said to have came into Najib's bank accounts as donations from Arab were already used up before the RM42 million from SRC International landed in the accounts.

Sithambaram said testimony Yu's testimony confirmed that the sum of RM160 million paid into Najib's account ending 880 had been fully utilised by Sept 30, 2014.

The same account had a balance of RM848,242.89 on Dec 26, 2014 prior to a sum of RM27 million being credited into the account from Ihsan Perdana Sdn Bhd. - Mkini