Najib orchestrated SRC fraud from beginning, AG tells High Court

KUALA LUMPUR (Bernama): Former prime minister Datuk Seri Najib Razak orchestrated the SRC International Sdn Bhd fraud from the very beginning, which he had benefited from for more than three years, says Attorney-General Tan Sri Tommy Thomas.

He said the accused was also the "shadow director" of SRC that benefited financially from the coffers of SRC, whose property he was entrusted with dominion over.

Thomas also said Najib had an interest over SRC.

"The interest that the accused had in SRC was camouflaged by smoke and mirrors, behind the guise of missing persons and questionable characters, ” he said in his submission at the end of the prosecution case before High Court Judge Mohd Nazlan Mohd Ghazali Tuesday (Oct 22).

However, Thomas said the facts indicate that it was the accused and his proxies that pulled the strings behind the curtain of SRC.

"Why was the government was so interested and pulled all the strings to assist SRC, a newly established company with no track record, barely 12 months into operation, and so keen to facilitate a RM2 billion loan followed by a second RM2 billion loan within a space of eight months of each other to SRC?

“The inescapable conclusion must point to the interest of the accused in SRC, ” he said.

Thomas further submitted that the powers to "hire and fire" given by the SRC constitution to the accused had the effect of making him the ultimate decision-maker in SRC.

"Nothing of importance could be decided by SRC without the input of the accused, and none were, ” he said.

Najib, 66, is facing three counts of criminal breach of trust, one count of abusing his position and three counts of money laundering involving SRC International Sdn Bhd funds amounting to RM42mil.

The hearing of submissions before Justice Mohd Nazlan continues Wednesday (Oct 23). - Bernama