KUALA LUMPUR, Dec 10 — Datuk Seri Najib Razak has reportedly sued AmBank Islamic Bhd and its former relationship manager for negligence over the management of accounts used to divert funds from SRC International Sdn Bhd, according to court documents.
The Edge Markets reported a statement of claim where the former prime minister claimed AmBank and its former relationship manager Joana Yu Gin Ping had disclosed confidential information to fugitive businessman Low Taek Jho, whom the suit referred to as an unauthorised third party, the business portal said citing the statement of claim.
Najib said the parties in doing so had breached their duties and were negligent in the affairs relating to the accounts.
“Unbeknownst to the plaintiff at the material time, AmBank caused and/or acquiesced to Joanna Yu being designated as a ‘relationship manager’ over the 694, 880, 898 and/or 906 accounts,” the statement said.
“In this capacity, Joanna Yu either personally or through the actions of her subordinates acting under her instructions, became the main personnel and/or agent of AmBank through which all dealings on the plaintiff’s accounts were undertaken at the material time.”
The suit was filed in relation to the AmBank accounts ending 694, 880, 898 and 906, which Najib claims were managed by AmBank without his knowledge at the material time. AMMB Holdings Bhd was also named as defendant.
Information that were allegedly divulged included the balances of funds, details of cheques, credit and debit remittance transactions and bank account statements, as well as confirmation of cheques issued, the report said.
The statement of claim also alleged the bank and Yu had acted on Low’s instructions to ensure information like bank account and other statements were concealed from the former premier.
Najib claimed the bank and Yu had failed to inform him directly that Low was seeking disclosure of information and documents.
Yu was the prosecution’s 54th witness in the SRC International trial, in which Najib was charged with multiple counts of power abuse, money-laundering and criminal breach of trust over RM42 million of funds diverted from the 1MDB subsidiary.
The deputy public prosecutors had established that Yu was in communication with fugitive businessman Low, also known as Jho Low,, former SRC International Sdn Bhd chief executive officer (CEO) and managing director Nik Faisal Ariff Kamil and Yayasan Rakyat 1Malaysia CEO Ung Su Ling, among others, concerning the transfer of funds from SRC International into Najib’s personal accounts in the bank.
With regard to Najib’s accounts, Najib’s statement of claim said Yu had under Low’s instruction disclosed information to other unauthorised third parties including Kee Kok Thiam, Josie, Ung Su Ling and Jerome Lee Tak Loong.
The bank was also alleged to have irresponsibly left Najib in the dark despite the accounts going into overdrawn positions in the millions of ringgit, more than 30 times as a result of cheques being issued from the accounts, among others.
Najib’s statement of claim said the acts and omissions of AmBank and Yu were only discovered by him during the SRC trial, when the prosecution presented the communications between Yu and third parties in relation to the accounts during her testimony beginning July 22 to Aug 6.
AmBank and AMMB in a filing with Bursa Malaysia today said they would “vigorously oppose” the suit.
The companies were served the writ and statement of claim by Najib’s solicitors, Messrs Shafee & Co, yesterday, it added.
