Former prime minister Najib Abdul Razak gave evasive answers over the nearly RM4 billion in SRC International funds frozen in Switzerland, the Court of Appeal heard today.
Deputy public prosecutor V Sithambaram (above) submitted before the three-person bench that the former finance minister gave this type of answer when questioned by the prosecution in relation to Najib not allowing another minister to check on the funds in Switzerland.
During Najib’s RM42 million SRC corruption trial at the Kuala Lumpur High Court, former second finance minister Ahmad Husni Hanadszlah testified that Najib did not allow him (Husni) to go to Switzerland to check on the status of RM3.6 billion of SRC funds there.
During the criminal trial, Najib had testified that he prevented Husni from going there in 2016 as the latter should have presented a formal plan first.
The former premier also testified then that SRC was dealing with the issue, thus having no need for Husni to go to Switzerland.
The RM3.6 billion funds were part of the RM4 billion loan to SRC from Retirement Fund Incorporated (KWAP).
It was reported that the RM3.6 billion was sent to a financial institution in Switzerland, where the Swiss authorities later ordered the funds to be frozen.
Sithambaram’s submission was in response to Najib’s appeal to quash the former premier’s conviction and sentencing over seven charges involving RM42 million of SRC funds.
“The evasive answers of the appellant (Najib during the SRC trial at the High Court) showed the appellant did not want anyone to get involved in the frozen SRC funds in Switzerland.
“His action of wanting a proper plan but not even suggesting one to PW56 (56th prosecution witness Husni) seems absurd.
“It is the appellant who was instrumental in securing the RM4 billion loan to SRC and the GG (government guarantees for the RM4 billion loan to SRC from KWAP) which resulted in RM3.6 billion funds ending up in Switzerland.
“It is submitted that the appellant only allowed SRC to deal with the Swiss authorities so that the appellant had control of the SRC funds,” the DPP submitted.
Besides being former premier and finance minister, Najib also used to be the advisor emeritus to SRC and chairperson of the board of advisors of sovereign wealth fund 1MDB.
Before becoming fully owned by the Minister of Finance Incorporated, SRC was a subsidiary of 1MDB.
During the trial at the High Court, evidence was presented to show that Najib presided over cabinet meetings in August 2011 and February 2012, whereby approval was given for two government guarantees for the RM4 billion loan from KWAP to SRC.
The loan was issued in two tranches of RM2 billion each.
Among the seven charges that Najib was convicted of was one count of abuse of power, which involved the cabinet green light for the government guarantees.
Sithambaram will resume his submission tomorrow morning.
Today's bench was chaired by Court of Appeal judge Abdul Karim Abdul Jalil. The other members were judges Vazeer Alam Mydin Meera and Has Zanah Mehat.
On July 28 last year, the Kuala Lumpur High Court convicted Najib on one count of abuse of power, three counts of CBT, and three counts of money laundering in relation to the RM42 million of funds from SRC.
Trial judge Mohd Nazlan Mohd Ghazali had then sentenced Najib to 12 years in jail and a fine of RM210 million.
However, the lower court allowed the defence team's application to stay the sentence's execution pending the disposal of his appeal. - Mkini
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