Witness: Jho Low moved SRC funds into Najib's account to prevent overdrawing

KUALA LUMPUR: Fugitive businessman Low Taek Jho, or Jho Low, moved funds from the bank account of SRC International Sdn Bhd into Datuk Seri Najib Razak’s account to prevent it from being overdrawn, the High Court heard.

Joanna Yu, a former relationship manager at AmBank, said this during cross-examination by Najib’s lawyer Harvinderjit Singh here on Thursday (Aug 1).

Harvinderjit asserted that Jho Low took great efforts to ensure cheques did not bounce, including foreign remittances of RM49mil and 19 cash deposits of various values.

Harvinderjit: 19 cash deposits of substantial value. And all of it was for the purpose cheques don’t bounce?

Yu: Yes, for the MNR (Mohd Najib Razak) account.

Harvinderjit: Jho Low then moved money from SRC International Sdn Bhd, to Gandingan Mentari Sdn Bhd, to Ihsan Perdana Sdn Bhd and finally to the account ending 880.

Yu: We only know SRC International money came in. We were told to expect the money.

Harvinderjit: You know the money came from SRC International.

Yu: Yes, SRC International.

The witness was testifying in the corruption trial of Najib who is accused of misappropriating RM42mil of SRC International funds.

Najib, 66, faces three counts of criminal breach of trust, one count of abusing his position and three counts of money laundering amounting to RM42mil in SRC International funds.

The hearing continues before Justice Mohd Nazlan Mohd Ghazali this afternoon.