THERE was overwhelming evidence to show Najib Razak had personal interest in SRC International and had treated it like his own automated teller machine (ATM), lead prosecutor V. Sithambaram told the Court of Appeal today.

“The appellant had endorsed the establishment of SRC International as a special purpose vehicle even before it was a wholly owned subsidiary of 1MDB,” the lawyer said.

He said Najib was guilty as charged of using his office and position to obtain gratification, under section 23 of the Malaysian Anti-Corruption Commission (MACC) Act.

The defence had yesterday argued the said charge against Najib was prejudicial and that there was no evidence of gratification.

The lead prosecutor today said the former prime minister as the head of the cabinet had approved two government guarantees for Retirement Fund Inc (KWAP) for the total RM4 billion loan to SRC International.

During trial in the Kuala Lumpur High Court, retired deputy chief cabinet secretary Mazidah Abdul Majid had testified that Najib was personally involved in the decision-making process on the matter of KWAP’s loans.

Sithambaram told the three-man bench comprising judges Abdul Karim Abdul Jalil, Has Zanah Mehta and Vazeer Alam Mydin Meera that Najib’s presence in the meeting was proof of personal interest.

“By being present at the cabinet meeting, the other members of the cabinet could not independently deliberate on the government guarantees as the appellant was their superior and was presiding over the meeting.

“This was clearly an act of the appellant in making decisions and taking action which triggered the operation of section 23(2) of the MACC Act.

“The appellant then proceeded to utilise the funds he had received amounting to RM42 million for his own personal benefit,” Sithambaram said.

During trial, former finance ministry secretary Maliami Hamad had also testified that the ministry had  prepared the paperwork for the loan guarantees in a hurry.

“He had an interest and that’s why they quickly got the loan. However, there was nothing to show after the money was released. In the end, there were no projects, not even a pillar to be marked as a tombstone,” Sithambaram said.

Last July high court judge Mohd Nazlan Mohd Ghazali sentenced Najib to 12 years’ jail and fined him RM210 million after finding him guilty on seven charges of criminal breach of trust (CBT), money-laundering and abuse of position, involving RM42 million of SRC funds.

Najib is appealing the conviction and sentence. 

The hearing continues. – April 14, 2021.