Najib trial: RM4bil funds credited into SRC's account from KWAP

KUALA LUMPUR: The High Court was told Tuesday (April 30) that a total of RM4bil was credited into the account of SRC International Sdn Bhd from Kumpulan Wang Persaraan (KWAP).

AmBank's manager Wedani Senen, from the bank's remittance centre, testified that a sum of RM2bil was transferred from KWAP to SRC International's AmIslamic Bank account in on Aug 29, 2011.

The money was credited by four tranches of RM500mil each.

Wedani also confirmed that on March 28, 2012, another RM2bil was credited into the same SRC account in one lump sum.

Wedani, who was in examination-in-chief by DPP Sulaiman Kho Kheng Fuei, explained that the payment was split into four as bank officers who ranked manager and below could only approve transactions up to RM500mil.

For the transaction on March 28, 2012, Wedani said a senior manager with higher clearance was asked to approve the RM2bil in one lump sum as they had 20 minutes to transfer the money before Bank Negara Malaysia closed for the day at 6pm.

The witness also told the court that a confirmation advice is a document that is automatically generated by the Rentas (Real Time Electronic Transfer of Funds and Securities) system for completion of money transferred from another bank into an AmBank account.

For monies that are transferred out from an AmBank account into another bank's account, the document is called a completion advice.

Najib is facing seven charges of abuse of power, criminal breach of trust and money laundering involving RM42mil belonging to SRC International.

The hearing continues before Justice Mohd Nazlan Mohd Ghazali on Thursday (May 2).


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