KUALA LUMPUR (Aug 15): SRC International Sdn Bhd and its subsidiary Gandingan Mentari Sdn Bhd are seeking the return of RM42 million that was transferred into former prime minister Datuk Seri Najib Razak’s personal bank accounts.
“Ten years have passed since the funds made their way into the defendant’s accounts,” said counsel Kwan Will Sen as he opened the trial on Friday. “Today, we begin the process for the plaintiffs to reclaim what is rightfully theirs.”
Kwan described the case as one of betrayal.
“The facts are stark: public money — funds meant to secure Malaysia’s energy future and benefit civil service pensioners — ended up in the personal accounts of our former prime minister,” he said.
The suit is among 25 filed in 2022 by 1Malaysia Development Bhd (1MDB) and SRC, the state investment arm embroiled in financial scandals.
SRC and Gandingan Mentari are also seeking a court declaration holding Najib liable for receiving the RM42 million, as well as damages for knowing receipt, dishonest assistance, misfeasance in public office, and abuse of power.
The RM42 million in question is the same sum transferred between Dec 26, 2014 and Feb 10, 2015 — funds at the centre of Najib’s criminal SRC case, in which he was convicted of criminal breach of trust, money laundering, and abuse of power. Najib is currently serving his prison sentence.
Kwan noted that, unlike criminal proceedings requiring proof beyond reasonable doubt, this civil action only needs to establish on the balance of probabilities that Najib received the RM42 million and knew the funds were illicit.
Najib is also facing another ongoing civil suit from SRC seeking a declaration that he is liable for US$1.18 billion in losses due to breaches of duty and trust. SRC is additionally pursuing US$120 million in compensation from Najib and US$2 million from former CEO Nik Faisal Ariff Kamil, along with damages.
