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SRC case: Najib knew of billions in account but not quite how money got there

Najib knew of the billions of ringgit in his bank account but not the details of how the money got there.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — Dec. 4, 2019: A sum of US$1.05 billion (RM3.2 billion) from Saudi Arabia was deposited into the AmBank account of former prime minister Datuk Seri Najib Razak between 2011 and 2013 but he claimed not to know the details of each and every transaction at that time.

The witness statement Najib read in court today showed that US$99,999,976.00 was credited in 2011; US$269,999,985.59 in 2012 and US$680,999,976.00 in 2013.

Asked if he knew about the amounts received, Najib said he only knew about all the transactions when his statement was recorded by the Malaysian Anti-Corruption Commission.

Najib is facing seven charges involving the misappropriation of RM42 million of SRC International Sdn. Bhd. funds.

According to Najib, the identity of the sender should be known to AmBank and Bank Negara Malaysia, which also received letters during that time as supporting documents stating that the donations would be made by several companies.

“I believe this is why nothing suspicious was raised to me at that time,” he said.

“I was also shown some letters said to be from the authorised representative of King Abdullah stating that he had given me the money as a gift that can be used at my discretion.”

On whether the money had been spent, Najib explained that he was informed a significant amount remained in the account. A sum of RM2.02 billion was returned and RM162 million transferred to a new account.

Najib also said that fugitive businessman Low Taek Jho or Jho Low was the man who arranged meetings between him and King Abdullah Abdulaziz Al Saud of Saudi Arabia during several of his visits there.

He claimed to have been told by Low that the king was impressed with Malaysia’s ability to practice moderation in Islam and that the ruler had agreed to provide support to him in the form of a personal donation.

“From 2011 to 2014, I received a huge sum of money which I believed was the donation from King Abdullah as a sign of his support,” he said, adding that Low had told him the total would be between US$100 million and US$200 million.

The hearing before Justice Mohd. Nazlan Mohd. Ghazali continues Monday.

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