PUTRAJAYA – The ninth day of appeal proceeding for Datuk Seri Najib Razak to strike off his conviction on the misappropriation of RM42 million belonging to SRC International Sdn Bhd (SRC International) will begin soon.
The former Prime Minister arrived at the Court of Appeal at 8.50 am, clad in blue suit, smiled and waved at the photographers who have been waiting for him.
Prosecutor, Deputy Public Prosecutor, Datuk V Sithambaram is scheduled to present his argument on the criminal breach of trust (CBT) case before the three-panel judges led by Datuk Abdul Karim Abdul Jalil, along with Datuk Has Zanah Mehat and Datuk Vazeer Alam Mydin Meera.
Last Thursday, Sithambaram said that almost all RM4 billion invested by SRC International in several entities do not bring any return.
On the contrary, Sithambaram said that the renewable energy sector all looked good on the proposal. SRC International only started its business by transferring the money in the form of fixed deposits to Switzerland after the Retirement Fund Incorporated (KWAP) issued the loan for SRC International in 2011 and 2012.
Judge Abdul Karim also stated that the company was set up as a mask to protect its actual intention and Sithambaram agreed with the statement.
Sithambaram also stated that there were no evidence or documents to show that all funds obtained by KWAP has been invested appropriately as stated in the document of company’s incorporation.
The proceeding will continue with Sithambaram delivering his arguments.
SRC International is a subsidiary of 1Malaysia Development Berhad (1MDB).
On 28 July last year, High Court Judge Mohd Nazlan Mohd Ghazali sentenced Najib to 12 years in prison and RM210 million in fine after finding him guilty on seven counts of criminal breach of trust (CBT), money-laundering and power abuse of funds involving SRC International. -MalaysiaGazette