Former SRC director tells court he was unaware of 'secret' company bank account

  • Nation
  • Wednesday, 03 Jul 2019

KUALA LUMPUR: Former SRC International Sdn Bhd director Datuk Suboh Md Yassin had no knowledge of the company’s “secret” bank account that received a RM2bil loan from the Retirement Fund Incorporated (KWAP) in 2011, the High Court heard.

The 42nd prosecution witness made this admission on Wednesday (July 3) during a cross-examination by defence counsel Harvinderjit Singh at the corruption trial of Datuk Seri Najib Razak, who is accused of misappropriating RM42mil in SRC International funds.

Harvinderjit: When did SRC International received the first KWAP loan?

Suboh: I don't know.

Harvinderjit: None of the directors in SRC International or (former CEO) Nik Faisal Ariff Kamil told you that there was another account for the company which bore the number ending with 736?

Suboh: Yes.

Harvinderjit: With regard to the account ending 736, you were not the signatory for the account?

Suboh: Never.

The 68-year-old said he had never seen the bank statements for the account.

When asked about transactions involving the account between January 2011 and Aug 31, 2015, he said it was beyond his knowledge.

Harvinderjit then referred the witness to a bank statement, and Suboh agreed that RM2bil from KWAP came in and out on the same day based on the document.

The court was also told of a shocking revelation that one of SRC’s bank accounts only had RM264 left in its balance.

The witness was shown documents to the account ending 650, and Harvinderjit said there was only RM264 left in the balance as of Feb 28, 2012.

Suboh was a signatory of the account ending 650.

This contradicted Nik Faisal’s claim that the 650 account had RM16mil left.

However, another entry on Feb 29, 2012 for the secret account ending 736 stated there was a balance of RM17,808.60.

In a previous proceeding, the court had heard a testimony from former SRC International board chairman Tan Sri Ismee Ismail who said that Nik Faisal once told a board meeting that SRC

International had RM16mil to spend in its account.

Najib is facing seven charges involving RM42mil in funds belonging to SRC International, formerly a subsidiary of 1Malaysia Development Bhd (1MDB).

On July 4 last year, Najib claimed trial to a charge of abuse of power and three counts of criminal breach of trust linked to the 1MDB scandal.

He allegedly misappropriated RM42mil in funds belonging to SRC International.

On Aug 8 last year, he was charged with three counts of money laundering involving the same RM42mil.

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

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