The Court of Appeal said Najib Abdul Razak's alleged receipt of a donation from the Saudi royal family was untenable evidence in his trial for misappropriating RM42 million from SRC International Sdn Bhd.
In the summary judgment read out today, the Court of Appeal judges said this was because the evidence showed that RM42 million originated from SRC International and ended up in Najib's personal bank accounts.
"Secondly, the alleged bulk of the Arab donation entered and left the appellant's account sometime in 2013, well before the RM42 million came from SRC to the appellant's bank accounts.
"Thirdly, the alleged second tranche of a series of an alleged Arab donation in 2014 amounted in total to about RM49 million only, including RM5 million which had nothing to do with the alleged Arab donation, which had been used up except for about RM6 million, before the arrival of the RM42 million into the appellant's bank account from SRC.
"Evidence had shown that from the later period of 2014 until early 2015, some RM136 million was utilised by the appellant despite his belief that only RM49 million came pursuant to the alleged fourth Arab letter.
"Hence, we agree with the learned prosecutor's contention that the circumstances surrounding the fourth Arab letter clearly show that it is a fabrication and that the appellant could not honestly believe that the RM49 million is from the Saudi royal family," said the judges.
The alleged donations from the Saudi royal family were Najib's key explanation for his incredible bank account balance between 2011 and 2015.
During the trial, the prosecution submitted that Najib received the RM42 million from three companies - Gandingan Menteri Sdn Bhd, Ihsan Perdana Sdn Bhd, and Putra Perdana Construction Snd Bhd - which ultimately drew the monies from SRC International.
SRC International was set up in 2011 and was supposed to invest in areas of strategic interest, such as natural resources and energy.
At the time, Najib was the company's advisor emeritus by virtue of being prime minister. SRC International then convinced the cabinet, which Najib chaired at the time, to guarantee an RM4 billion loan from Retirement Fund Incorporated (Kwap).
To date, SRC International has not demonstrated any returns.
Judge conducted trial appropriately
The Court of Appeal judges also dismissed Najib's defence that he did not know that RM42 million was SRC International property and that he was deceived by Jho Low and others.
"However, as alluded by the learned trial judge, the evidence establishes the appellant had the requisite knowledge of the status of his bank accounts at the material time or from which knowledge and dishonest intention can be easily inferred, as discussed above, plainly negates these contentions," said the judges.
The judges said High Court judge Mohd Nazlan Mohd Ghazali had conducted the trial appropriately in weighing this evidence.
"Having done that, the learned trial judge found, and quite correctly we must add, that the three CBT charges had been proven beyond reasonable doubt.
"Thus, we do not find any appealable errors on the part of the learned trial judge that would warrant appellate intervention," said the judges.
The Court of Appeal panel consists of justices Abdul Karim Abdul Jalil, Has Zanah Mehat, and Vazeer Alam Mydin Meera.
In July last year, Nazlan found Najib guilty of all seven charges related to the RM42 million found in the latter's bank accounts.
Najib was sentenced to 12 years in jail and fined RM210 million. Following the Court of Appeal decision, Najib has vowed to appeal at the Federal Court. - Mkini
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