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PUTRAJAYA, April 7 — Only fugitive businessman Low Taek Jho has the answer as to why funds from SRC International Sdn Bhd were deposited into Datuk Seri Najib Razak’s bank accounts, the Court of Appeal heard today.
Najib’s defence lawyer Harvinderjit Singh said this in a brief spontaneous reply during submission in Najib’s appeal hearing against the former prime minister’s conviction and jail sentence for misappropriation of RM42 million SRC International funds.
Court of Appeal judge Datuk Abdul Karim Abdul Jalil, who chaired a three-member panel, had earlier interjected Harvinderjit’s submission and questioned why millions of ringgit were transferred into the former prime minister’s bank accounts in Ambank.
“Why did Jho Low put RM5 million and RM27 million into Najib’s accounts?” Abdul Karim asked of Low’s involvement in SRC International when the latter had no formal position in the company at the time.
“Only Jho Low could answer it,” Harvinderjit replied.
It was previously revealed in court that RM42 million from the Retirement Fund Incorporated (KWAP) were disbursed by SRC International to its subsidiary Gandingan Mentari Sdn Bhd (GMSB) as well as to its purported corporate social responsibility partner Ihsan Perdana Sdn Bhd (IPSB).
And later, RM42 million from IPSB was transferred into Najib’s personal accounts between December 2014 and February 2015.
Harvinderjit also said Low was involved in the convoluted monetary trail involving the accounts of SRC International, GMSB, IPSB and Najib. He maintained that Najib had no knowledge of these transactions.
He said Low was able to handle Najib’s bank accounts as he could move money with the assistance of an “operative” within SRC named Terence Geh, who is a fugitive as well.
“Why would the then prime minister knowingly take money from a government linked company and put in his accounts?
“It just doesn’t make sense,” Harvinderjit argued.
Najib was sentenced to 10 years’ jail on each of the three counts of CBT and each of the three counts of money laundering, and 12 years’ jail and a RM210 million fine, in default five years’ jail, in the case of abuse of position on July 28 last year.
However, Najib will only serve 12 years in jail as the judge ordered all the jail sentences to run concurrently.
The appeal hearing before Court of Appeal judge Datuk Abdul Karim Abdul Jalil who chaired a three-member panel alongside Datuk Has Zanah Mehat and Datuk Vazeer Alam Mydin Meera resumes tomorrow.