KUALA LUMPUR: Datuk Seri Najib Razak was involved in every step of the way in ripping off SRC International right from the time it was established, the High Court heard today.
Attorney General Tan Sri Tommy Thomas said the former prime minister had hatched a well planned, deliberate and pre-meditated plot to ensure money from the 1Malaysia Development Bhd (1MDB) subsidiary company ended in his personal bank account.
“The accused had an important role in every part of the transactions.
“He was the director of the orchestra…he had the ultimate power. He was the emperor of the company,” he said in a packed court room.
Thomas said this in his submissions as both sides presented their arguments for the judge to decide if the case is strong enough for Najib’s defence to be called.
The 66-year old Pekan member of parliament is facing seven charges of corruption and money laundering involving RM42 million of SRC International funds.
Malaysian Anti Corruption Commission (MACC) chief commissioner Latheefa Koya was among those who turned up in the morning session to hear the submissions.
Justice Mohd Nazlan Mohd Ghazali will decide on November 11 whether the prosecution has established a prima facie case against Najib.
A total of 57 witnesses have testified in the trial which began in April.
Thomas said Najib had right from the start of SRC International’s establishment ensured that “his word was the law” in the company.
Najib, he said, ensured this by amending a clause in the SRC International constitution which gave him the power to lord over everything.
Touching on how SRC International ended up with RM4 billion loan from the Retirement Fund Inc (KWAP), Thomas said the company was set up with RM1 million paid up capital.
“He realised from the start that this was not going to fund the greedy plans he had up the road.
“The first step taken was to borrow RM4 billion. However, who is going to give you RM2 billion (the first loan taken by SRC International)…nobody. So they came up with a big pocketed guarantor who can do it - the government.
“Then, lo and behold we have the prime minister, who is also the finance minister to sign for the government to come up with the guarantee,” he said.
Thomas said the RM2 billion was released within just 12-days, a record for the government.
The new government, he added, was now saddled with all the debt and had to service the loan at tax payers expense.
“In fact, there was evidence to show that when the government was unable to repay the loan previously, the accused approved another loan without even tabling it.
“Who made the decision?…It was the accused,” he said.
On the RM42 million which ended in Najib’s personal bank account, Thomas said the accused must answer how he had all that money considering his total annual salary was less than RM1 million.
He added that it was also clear Najib had issued hundreds of cheques from the same account and not a single one bounced.
Thomas said considering all the evidence which had been produced, Najib should be directed to enter his defence.
The submissions will continue tomorrow.