Latest news with #DatukSeriNajibTunRazak
The Sun
3 days ago
- Business
- The Sun
Najib misused RM42 million from SRC International, court told
KUALA LUMPUR: The High Court here was told today that former Prime Minister Datuk Seri Najib Tun Razak betrayed the public's trust by misusing SRC International Sdn Bhd's RM42 million that were meant to benefit Malaysia's energy future and civil service pensioners. Counsel Kwan Will Sen, representing SRC International and its subsidiary, Gandingan Mentari Sdn Bhd, in the RM42 million civil suit against Najib, stated that it has been ten years since the money ended up in Najib's personal accounts and now, the two companies want it back. He made these remarks while delivering the opening statement on the first day of trial in the civil suit filed in May 2022 by SRC International and Gandingan Mentari against Najib (the sole defendant). 'Three courts namely the High Court, Court of Appeal and Federal Court, have already found him (Najib) criminally guilty of these very acts beyond a reasonable doubt. 'Najib was the Finance Minister at the time and had full control over SRC International. He held key positions, including that of Advisor Emeritus. As such, no significant transaction occurred without his knowledge or consent,' he said. Kwan also stated that the evidence will prove that the RM42 million was transferred from SRC International and ultimately ended up in Najib's personal bank accounts. Of this sum, RM32 million was immediately transferred to two companies that had previously covered shortfalls in Najib's accounts. 'These transfers were made pursuant to instruction letters bearing his (Najib) personal signature. The remaining RM10 million was spent through personal cheques issued by Najib himself,' he said. 'We say that the money trail is clear, the documentary evidence is overwhelming, and Najib's own sworn admissions are damning. We will prove our case under three complementary causes of action; knowing receipt, dishonest assistance, and misfeasance in public office. 'On any of these grounds, justice demands that these public funds be returned to their rightful owners – the Malaysian people,' he insisted. The court today heard testimony of the first witness, former chief executive officer (CEO) of Yayasan Rakyat 1Malaysia (YR1M), Ung Su Ling, 57, whose appointment was approved by Najib. The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan will continue on Nov 6. This lawsuit, filed in May 2022, accuses Najib of breach of fiduciary duties, knowing receipt of funds, dishonest assistance, tort of misfeasance and abuse of power in relation to the misappropriation of SRC International funds. - Bernama
Barnama
3 days ago
- Business
- Barnama
Najib Betrayed Public's Trust, SRC International Wants RM42 Million Back
KUALA LUMPUR, Aug 15 (Bernama) -- The High Court here was told today that former Prime Minister Datuk Seri Najib Tun Razak betrayed the public's trust by misusing SRC International Sdn Bhd's RM42 million that were meant to benefit Malaysia's energy future and civil service pensioners. Counsel Kwan Will Sen, representing SRC International and its subsidiary, Gandingan Mentari Sdn Bhd, in the RM42 million civil suit against Najib, stated that it has been ten years since the money ended up in Najib's personal accounts and now, the two companies want it back. He made these remarks while delivering the opening statement on the first day of trial in the civil suit filed in May 2022 by SRC International and Gandingan Mentari against Najib (the sole defendant). 'Three courts namely the High Court, Court of Appeal and Federal Court, have already found him (Najib) criminally guilty of these very acts beyond a reasonable doubt. 'Najib was the Finance Minister at the time and had full control over SRC International. He held key positions, including that of Advisor Emeritus. As such, no significant transaction occurred without his knowledge or consent,' he said. Kwan also stated that the evidence will prove that the RM42 million was transferred from SRC International and ultimately ended up in Najib's personal bank accounts. Of this sum, RM32 million was immediately transferred to two companies that had previously covered shortfalls in Najib's accounts. 'These transfers were made pursuant to instruction letters bearing his (Najib) personal signature. The remaining RM10 million was spent through personal cheques issued by Najib himself,' he said. 'We say that the money trail is clear, the documentary evidence is overwhelming, and Najib's own sworn admissions are damning. We will prove our case under three complementary causes of action; knowing receipt, dishonest assistance, and misfeasance in public office. 'On any of these grounds, justice demands that these public funds be returned to their rightful owners – the Malaysian people,' he insisted.
The Star
3 days ago
- Business
- The Star
Najib betrayed public's trust, SRC International wants RM42mil back, says counsel
KUALA LUMPUR: The High Court here was told on Friday (Aug 15) that former Prime Minister Datuk Seri Najib Tun Razak betrayed the public's trust by misusing SRC International Sdn Bhd's RM42mil that were meant to benefit Malaysia's energy future and civil service pensioners. Counsel Kwan Will Sen, representing SRC International and its subsidiary, Gandingan Mentari Sdn Bhd, in the RM42mil civil suit against Najib, stated that it has been ten years since the money ended up in Najib's personal accounts and now, the two companies want it back. He made these remarks while delivering the opening statement on the first day of trial in the civil suit filed in May 2022 by SRC International and Gandingan Mentari against Najib (the sole defendant). "Three courts namely the High Court, Court of Appeal and Federal Court, have already found him (Najib) criminally guilty of these very acts beyond a reasonable doubt. "Najib was the Finance Minister at the time and had full control over SRC International. He held key positions, including that of Advisor Emeritus. As such, no significant transaction occurred without his knowledge or consent," he said. Kwan also stated that the evidence will prove that the RM42mil was transferred from SRC International and ultimately ended up in Najib's personal bank accounts. Of this sum, RM32mil was immediately transferred to two companies that had previously covered shortfalls in Najib's accounts. "These transfers were made pursuant to instruction letters bearing his (Najib) personal signature. The remaining RM10mil was spent through personal cheques issued by Najib himself," he said. "We say that the money trail is clear, the documentary evidence is overwhelming, and Najib's own sworn admissions are damning. We will prove our case under three complementary causes of action; knowing receipt, dishonest assistance, and misfeasance in public office. "On any of these grounds, justice demands that these public funds be returned to their rightful owners - the Malaysian people," he insisted. The court on Friday heard testimony of the first witness, former chief executive officer (CEO) of Yayasan Rakyat 1Malaysia (YR1M), Ung Su Ling, 57, whose appointment was approved by Najib. The hearing before Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan will continue on Nov 6. This lawsuit, filed in May 2022, accuses Najib of breach of fiduciary duties, knowing receipt of funds, dishonest assistance, tort of misfeasance and abuse of power in relation to the misappropriation of SRC International funds. - Bernama
The Sun
09-07-2025
- Politics
- The Sun
Federal Court reserves decision on AG's appeal over Najib house arrest document
PUTRAJAYA: The Federal Court has deferred its decision on the Attorney General's appeal concerning a purported document that may allow former prime minister Datuk Seri Najib Tun Razak to complete his prison sentence under house arrest. A three-judge panel led by Chief Judge of Malaya Tan Sri Hasnah Mohammed Hashim heard arguments from both sides before reserving judgment. Senior federal counsel Shamsul Bolhassan represented the Attorney General, while Najib's legal team was led by Tan Sri Muhammad Shafee Abdullah. The court will announce its ruling at a later date. The appeal follows a Court of Appeal decision in January that sent Najib's application back to the High Court for review. The case revolves around the alleged existence of an additional document linked to Najib's imprisonment. Najib is currently serving a six-year sentence after the Federal Court upheld his conviction in the SRC International case. His original 12-year term was halved by the Pardons Board in February 2023, with his fine reduced from RM210 million to RM50 million. During proceedings, Muhammad Shafee argued that the document's confidential nature prevented earlier disclosure. He stated that Najib's son obtained the document after the High Court ruling but could not use it without royal consent. Shamsul acknowledged the document's existence but stressed that proper legal procedures must be followed for its submission. - Bernama
The Sun
08-07-2025
- Business
- The Sun
SRC International board responsible for transactions, Najib's lawyer argues
KUALA LUMPUR: The High Court was informed that the board of directors and management of SRC International Sdn Bhd held responsibility for the company's financial transactions, not Datuk Seri Najib Tun Razak. Muhammad Farhan Muhammad Shafee, Najib's lawyer, argued that his client did not have exclusive control over SRC's operations or the handling of funds obtained from the Retirement Fund Inc (KWAP). 'The board executed all relevant transactions and bore responsibility for oversight. If any misappropriation occurred, it was due to the board's own decisions,' he said. The submission was made during the hearing of SRC's USD1.18 billion civil suit against Najib and former CEO Nik Faisal Ariff Kamil, who remains at large. Muhammad Farhan contended that Najib neither controlled the board's decisions nor owed fiduciary duties as a director. 'Any formal roles or shareholder approval rights he held were part of lawful governance structures and did not make him the 'controlling mind' of SRC in breach of duty,' he said before Judge Datuk Ahmad Fairuz Zainol Abidin. SRC, under new management, filed the suit in May 2021, alleging Najib breached trust, abused power, and misappropriated funds. The company seeks repayment of RM42 million in losses. Najib is currently serving a reduced six-year jail term for misappropriating SRC funds. His petition for a royal pardon led to a halved sentence and a reduced fine of RM50 million. The case resumes on Aug 25. - Bernama
