AHMAD Zahid Hamid used the Yayasan Akalbudi trust according to his “whims and fancies” as he dictated the flow of the monies, the Kuala Lumpur High Court heard today.

Deputy public prosecutor Raja Rozela Raja Toran said former trustees Mohd Samsuri Tun, Zulkifli Senteri, Muhammad Nabil Saleh and Khairuddin Tarmizi were “appointed merely to make up the numbers” on the board.

She also disputed any view that Zahid “owned” Yayasan Akalbudi on account of him contributing all of the funds. 

“He had a board of trustees who were mere puppets. They were mere puppets on a string. It was as if they were appointed merely to make up the numbers in the board of trustees,” Raja Rozela told trial judge Collin Lawrence Sequerah.

“Being the controlling mind behind Yayasan Akalbudi and as the sole authorised signatory of the Akalbudi bank accounts, the accused was in the position to make use of the trust fund according to his whims and fancies.”

She also refuted that Zahid could do anything with the funds since other board members did not make a single contribution.

The prosecutor pointed to the cross-examination of the 15th prosecution witness Khairuddin who said he “totally agreed” that Yayasan Akalbudi belongs to Zahid.

At that time, Khairuddin also agreed that the source of the foundation’s funds was 100% from Zahid.

The prosecution then submitted that it is untenable if Zahid was claimed to be the rightful owner of Yayasan Akalbudi funds for purportedly being the major contributor.

“Akalbudi is a company duly incorporated under the Companies Act, and as such, it must be treated as a separate legal entity, distinct from its directors and trustees,” Raja submitted.

“It will not make the slightest difference if it had been 10 sen or RM10,000.

The fact remains that all funds standing to the credit of Akalbudi at any period, from whatever source, remain the property of Akalbudi.”

Zahid, 68, is facing 47 charges – 27 for money laundering, 12 for criminal breach of trust and eight for corruption – involving tens of millions of ringgit belonging to Yayasan Akalbudi.

The trial resumes tomorrow. – October 12, 2021.