PUTRAJAYA – Deputy Public Prosecutor, Datuk V Sithambaram alleged that former Prime Minister, Datuk Seri Najib Razak had ignored the Board of Directors of SRC International Sdn Bhd (SRC International) by making his own decisions.
According to Sithambaram, Najib, who is also the Member of Parliament was likened to the puppeteer who used all board members of SRC International as puppets in steering the journey of the company.
Sithambaram said, Najib was very powerful back then as he was not only the Prime Minister but also the Finance Minister and the Advisor of SRC International, a full entity of the Ministry of Finance Incorporated (MoF Inc).
“Najib managed the company by giving his decision on the appointment of lawyer and auditor and also the which bank to manage the company’s account when all these should be carried out by the director of the company.
“He acted by fully utilising his huge influence on SRC for his personal benefit, not for the company.
“His role came true when there is an official position such as the Emeritus Advisor to further strengthen his position in SRC that enabled him to give direct orders to the Board of Directors of SRC, as their master,” he said during the appeal proceeding of SRC International which entered its 9th day before the three-panel judge led by Datuk Abdul Karim Abdul Jalil along with Datuk Has Zanah Mehat and Datuk Vazeer Alam Mydin Meera.
On 28 July last year, High Court Judge Mohd Nazlan Mohd Ghazali had sentenced Najib to 12 years in prison and RM210 million in fine after finding him guilty on seven counts of criminal breach of trust, money laundering and power abuse involving the funds of SRC International.
Sithambaram alleged that Najib’s action in issuing stakeholders orders was able to provide opinion on how Najib controlled and had the absolute power in SRC International, meanwhile, the Board of Directors were merely the ‘puppets’.
“Najib placed and appointed the BOD of SRC himself. Furthermore, they all could not move or decide without Najib’s order back then,” he said.
Meanwhile, Sithambaram said that the decision delivered by High Court Judge, Mohd Nazlan Mohd Ghazali was accurate that the director of SRC had to follow the instruction of the stakeholder as Najib had the influence on ‘excessive’ control in SRC.
“Najib had absolute control on SRC and there are obvious evidences that he had acted at his personal capacity and not at the principle capacity by signing all stakeholder’s order before they were executed by the Board of Directors,” he said. -MalaysiaGazette