KUALA LUMPUR: The money laundering charges against former prime minister Datuk Seri Najib Razak has nothing to do with 1Malaysia Development Bhd (1MDB) and the seizure of luxury yacht Equanimity.
Najib’s lead counsel, Tan Sri Muhammad Shafee Abdullah, said the charges were related to his previous criminal breach of trust and power abuse cases.
“This case is tied up to the first four charges my client faces and has nothing to do with 1MDB or the luxury yacht which just docked in Klang. I do not know why the timing is similar but I can assure you it has nothing to do with it.
“SRC International Sdn Bhd at the time of the so called happening was no longer part of 1MDB as it had (already) been (placed) under the Finance Ministry. You can see this when the court also did not increase my client’s bail,” he told reporters at the court complex lobby.
On a separate matter, Shafee said the court also fixed Aug 10 to hear submissions on the gag order to stop anyone from making prejudicial statements which can impact the trial.
Najib claimed trial at the High Court this morning to receiving more than RM40 million from illegal proceeds linked to SRC International Sdn Bhd.
He was alleged to have received RM42 million, in total, at an Am Islamic Bank branch via electronic funds transfer at Jalan Raja Chulan here between Dec 26, 2014, and Feb 10, 2015.
The offence falls under Section 4 (1) (b) of the Anti-Money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Najib faces a maximum 15 years’ jail and no less than five times the amount of proceeds involved, or a RM5 million fine, whichever is higher, if convicted.
On July 4, Najib claimed trial to three counts of criminal breach of trust and another charge of abuse of power involving RM42 million linked to SRC International Sdn Bhd, a former subsidiary of 1MDB.