THE prosecution’s assertion that former prime minister Najib Razak’s RM42 million originated from the RM4 billion in Retirement Fund Inc (KWAP) loans to SRC International Sdn Bhd was contradicted by the testimony of the investigating officer of the case, said the defence in its closing submissions today.

Defence counsel Farhan Read told the Kuala Lumpur High Court the actual or probable cause of the RM42 million in transactions into Najib’s accounts between December 24, 2014 and February 6, 2015, has not been proven.

“There is in evidence now the clear concession by the IO (Malaysian Anti-Corruption Commission investigating officer Rosli Hussain) that the RM42 million was not from the KWAP loans.

“There is therefore no nexus between the decision made at cabinet meetings which led to the KWAP loans and the RM42 million.

“There is no proven link between the RM42 million out of SRC International and anything relating to the KWAP loans and the two government guarantees (issued in 2011 and 2012).”

This, he said, was based on evidence tendered in court and the testimonies by witnesses.

Farhan said there was nothing in evidence showing that the actions of Najib as “shadow director”, agent of SRC International, or any other capacity causing the RM42 million to be transacted into his personal accounts.

“The prosecution’s question on why else would the RM42 million leave SRC International is proof that the prosecution has failed to prove the CBT (criminal breach of trust) and MACC charges beyond reasonable doubt.

“No inference is capable. Conjecture does not provide basis in law to overcome lack of proof.”

Najib faces seven charges for receiving RM42 million in SRC International funds between December 2014 and February 2015.

He is charged with three counts of criminal breach of trust, three counts of money-laundering and one count of abuse of power.

The defence maintains that Najib was under the impression that the funds he spent on political activities, corporate social responsibility programmes and other personal expenditures originated from Saudi Arabia.

Najib’s lawyers also maintained that 1Malaysia Development Bhd intermediary figure Low Taek Jho was behind transactional exercises that led the RM42 million into Najib’s accounts.

Farhan added that Rosli also conceded that the transactions instructed by Low to AmBank relationship manager Joanna Yu, who manages Najib’s accounts, were undertaken at the Penang-born businessman’s behest and interest.

Najib, who turns 67 next month, is represented by a dozen lawyers led by Muhammad Shafee Abdullah. – June 4, 2020.