PROSECUTORS in Najib Razak’s SRC International trial today have questioned why the former prime minister did not take legal action against AmBank for the fraud alleged by the defence. 

Prosecutors also got confirmation from AmBank that all cheques issued from Najib’s three personal accounts can only be signed by the former prime minister himself and no one else. 

During the re-examination of AmBank manager R. Uma Devi, ad hoc prosecutor V. Sithambaram said the defence had sought to establish that the bank did not take enough steps to verify the signatures on cheques. 

These included a transfer of RM40 million on December 24, 2014 and two transfers of RM5 million each on February 5 and 6, 2015, from SRC International to its subsidiary, Gandingan Mentari.  

Sithambaram: If the transfers were made without proper mandate… is it normal that the customer has not sued the bank for the past five years?

Uma: It is unusual. 

Sithambaram: The money (was alleged to have been) debited without authorisation. Are you aware of any legal action pending against the bank?

Uma: No. 

He said a total of RM85 million was debited from SRC International, referring to another transfer of RM35 million from July 8, 2014 to construction firm Putra Perdana Construction Sdn Bhd.

Sithambaram: Do you agree that all the cheques issued under the three accounts (ending in 906, 880 and 898) can only be signed by DSN (Datuk Seri Najib) and no one else?

Uma: Yes.

Earlier, Uma testified that transfers above RM50,000 would require consent from Bank Negara. The same amount, including for fund transfers from overseas, would also trigger an inquiry by the bank’s compliance department. 

During cross-examination, lead defence counsel Muhammad Shafee Abdullah referred to transfers from Saudi Arabia’s Ministry of Finance and a Prince Faisal bin Turki.

Shafee: Do you agree with me that (if) the source of this money is proceeds or any crime or anything untoward, that the bank would start an inquiry? 

Uma: Yes.

Shafee: How much of a fund transfer would trigger an inquiry?

Uma: RM50,000 and above would trigger an inquiry into the purpose and the source. 

Uma said it was the duty of the customer to inform Bank Negara as to the purpose. 

Shafee asked if the account holder is liable “if everything is above board” in the management of the account, to which Uma replied yes. 

Shafee then asked if an account holder is still responsible for the account if he had been misled, to which Sithambaram objected, saying this would be tantamount to asking the witness to interpret the law.

The objection was sustained. 

The defence is arguing that Najib is not fully aware of transactions in his bank accounts, that they were manipulated without his authorisation and that he was misled by bankers who cooperated with outsiders and possibly his own nominees to steal from SRC International.

Attorney-General Tommy Thomas leads the prosecution. Najib, dressed in a brown suit, sat in the dock and appeared calm. 

The trial is presided by Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali. – April 30, 2019.