Day 61 Najib To Delve Into His Controversial Ambank Accounts

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The criminal trial of former prime minister Najib Abdul Razak involving the alleged misappropriation of funds from SRC International Sdn Bhd enters day 61 today at the High Court in Kuala Lumpur
Malaysiakini brings you live reports of the proceedings
Summary of Najib’s SRC RM42 million caseNajib is facing 7 charges relating to RM42m involving SRC International, a former 1MDB subsidiary
1 abuse of power charge3 criminal breach of trust (CBT) charges3 money laundering chargesClick to view information on judge, prosecution and defence teamNajib Abdul Razak will testify today regarding the closing of his AmBank account ending with the number 694 and the opening and operating of accounts ending with numbers 880, 906 and 898
These are among contested issues that the former prime minister will delve into his trial today for his alleged involvement in abuse of power, criminal breach of trust (CBT), and money laundering linked to RM42 million of funds from SRC International
The “694” account is the one in which the accused claimed to have received hundreds of millions of US dollars in donation from the Saudi royal family between 2011 and 2013
In 2013 alone, Najib claimed to have received US$680 million, which he also claimed to have returned most of the said funds
The “880”, “906” and “898” accounts are linked to Najib allegedly receiving a total of RM42 million into his bank accounts, via multiple banking transactions, between late 2011 and early 2012
These three accounts formed the crux of the prosecution’s case of Najib’s seven charges, with one for abuse of power, three for CBT, and three for money laundering
On Nov 11, Kuala Lumpur High Court judge Mohd Nazlan Mohd Ghazali ruled that the prosecution succeeded in establishing a prima facie case (legal term meaning on the first impression, is correct unless successfully rebutted by the defence) against Najib
SRC International was a subsidiary of troubled sovereign wealth fund 1MDB, before the company’s ownership was transferred to the Minister of Finance Incorporated in 2012
Najib was then the finance minister as well as advisor emeritus of SRC International and chairperson of 1MDB board of advisors
The defence stage of Najib’s trial will resume before Nazlan this morning, with the accused expected to continue to read out from his 243-page prepared witness statement
[More to follow] - Mkini

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