Evidence show Jho Low transferred RM10m so cheques wouldn't bounce - defence
NAJIB SRC TRIAL | The evidence in the SRC International Sdn Bhd case do not show that Najib Abdul Razak was involved in an alleged premeditated plan to take RM42 million from the firm, according to his lawyers.
Defence counsel Farhan Read said the evidence point to fugitive businessperson Jho Low being responsible instead.
This included transferring RM10 million to Najib's accounts in February 2015 to ensure that cheques issued by the former prime minister did not bounce...
NAJIB SRC TRIAL | The evidence in the SRC International Sdn Bhd case do not show that Najib Abdul Razak was involved in an alleged premeditated plan to take RM42 million from the firm, according to his lawyers.
Defence counsel Farhan Read said the evidence point to fugitive businessperson Jho Low being responsible instead.
This included transferring RM10 million to Najib's accounts in February 2015 to ensure that cheques issued by the former prime minister did not bounce.
"The RM10 million as per the February transaction was only undertaken as a result of matters arising on Feb 5 and Feb 6, 2015, and only because Jho Low needed to ensure that the cheques issued were not dishonoured," said Farhan during proceedings before the Kuala Lumpur High Court today.
Previously, 54th prosecution witness and former AmBank relationship manager Joanna Yu testified that Najib's accounts were often overdrawn and Low would step in to resolve the matter.
As for the remaining RM32 million, Farhan (photo) said it was part of a reversal transaction undertaken at Low's behest and for his own interest "as conceded by the investigating officer".
Yu had previously agreed with the defence that the purpose of reversing the transaction into Najib's accounts was so that Putra Perdana Bhd's audited financial statement for the year 2014 would show that cash advances from the company had been zeroised.
The defence maintained Najib was unaware about the RM42 million originating from the state-owned SRC entering his bank account and was under the impression it was a "donation".
"The prosecution's question on why else would RM42 million leave SRC is proof that the prosecution has failed to prove criminal breach of trust and the MACC's charges beyond a reasonable doubt.
"No inference is capable. Conjecture does not provide the basis in law to overcome lack of proof," Farhan said.
Meanwhile, Farhan also submitted that there is no proven link between the RM42 million that allegedly was transferred out of SRC, the total RM4 billion in loans from Retirement Fund Incorporated (KWAP), and the two Government Guarantees given for the two loans.
The lawyer argued that this was borne by oral evidence by an investigating officer during cross-examination by the defence that purportedly conceded that the RM42 million was not from SRC.
“There is, therefore, no clear nexus between the decision made at the cabinet meetings which led to the KWAP loans and the RM42 million.
“We reiterate the actual or probable cause of the RM42 million transactions is not proven,” Farhan said.
One of the seven charges against Najib accused him of abusing his position as the then prime minister and finance minister to commit bribery involving RM42 million, via his involvement in the decision to provide government guarantees for loans from Retirement Fund Incorporated (KWAP) to SRC International amounting to RM4 billion.
Proceedings before Mohd Nazlan Mohd Ghazali will resume after 2.15pm this afternoon, with lead defence counsel Muhammad Shafee Abdullah expected to submit.
It was reported that Nazlan had initially scheduled three days beginning June 1 to June 3 to hear the oral submissions by both the defence and the prosecution.
However, due to the defence needing more time to deliver their counter-submission in reply to the prosecution, oral submissions continued for the fourth day today.
On March 11, the defence closed its case after calling 19 witnesses during the defence stage of trial that ran for 33 days beginning Dec 3 last year.
The trial began on April 3 last year, with the prosecution calling 57 witnesses. Following this, the court ordered Najib on Nov 11 to enter his defence on seven charges linked to alleged misappropriation of RM42 million in SRC funds comprising three counts of criminal breach of trust (CBT), three counts of money laundering, and one count of abuse of position in relation to the SRC monies.
In regard to two counts of CBT, Najib, as a public servant and agent through his posts as then prime minister and finance minister, and adviser emeritus of SRC International, was alleged to have misappropriated a total of RM32 million from a sum of RM4 billion belonging to SRC.
He was charged with committing the two offences at the AmIslamic Bank Bhd, Ambank Group Building, No 55, Jalan Raja Chulan, between Dec 24, 2014, and Dec 29, 2014.
On the third CBT charge, Najib allegedly misappropriated another RM10 million at the same place between Feb 10, 2015, and March 2, 2015.
The three CBT charges were laid out under Section 409 of the Penal Code which provides a maximum sentence of 20 years imprisonment as well as whipping and a possible fine on conviction.
On the charge of abusing his position, Najib as the then prime minister and finance minister was accused of having used his position to commit bribery involving RM42 million, via his involvement in the decision to provide government guarantees for loans from Retirement Fund Incorporated (KWAP) to SRC International amounting to RM4 billion.
He was alleged to have committed the offence at the Prime Minister's Office, Precinct 1, Putrajaya, Federal Territory of Putrajaya, between Aug 17, 2011, and Feb 8, 2012.
The abuse of power charge is laid under Section 23 of the Malaysian Anti-Corruption Commission Act 2009, and Section 24 of the Act provides for imprisonment for up to 20 years and a fine of not less than five times the amount or value of the bribe or RM10,000, whichever is higher, on conviction.
Regarding the three money-laundering charges, Najib is accused of having received RM27 million, RM5 million, and RM10 million, respectively, from unlawful activities into his two AmIslamic Bank accounts bearing the account numbers ending in 880 and 906.
The offences were allegedly committed at the AmIslamic Bank Berhad, AmBank Group Building, No 55, Jalan Raja Chulan, between Dec 26, 2014, and Feb 10, 2015.
The money laundering charges are framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001, and the former premier faces up to 15 years imprisonment and a fine of up to five times the sum or value of the illicit proceeds or RM5 million, whichever is higher, on each count, on conviction.
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