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Najib guilty of all 7 charges in RM42m misappropriation of SRC International funds

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KUALA LUMPUR, July 28 ― Datuk Seri Najib Razak has been found guilty by the High Court today for abuse of power and misappropriating over RM42 million from 1Malaysia Development Berhad’s (1MDB) former subsidiary SRC International Sdn Bhd.

In delivering his judgement to a packed courtroom, High Court judge Mohd Nazlan Mohd Ghazali said Najib was complicit in the deposits of RM42 million from SRC International in his private account.

“In conclusion after considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond reasonable doubt against the accused, I therefore find the accused guilty and convict the accused on all seven charges,” he said.

The conviction could also meant an end to Najib’s political career in Malaysia, as it jeopardises Najib’s chances of participating in the next election and the disqualification as an elected representative.

The SRC International trial is one of five criminal trials that involved him.

Najib’s charges

Of the seven charges he was accused of, Najib is accused of committing three counts of criminal breach of trust over a total RM42 million of SRC International funds while entrusted with its control as the prime minister and finance minister then, and a separate charge of abusing the same positions for self-gratification of the same sum.

For the remaining three charges, he is accused of laundering RM42 million.

For abuse of power under Section 23 of the Malaysian Anti-Corruption Act 2009, a person convicted faces a maximum of 20 years’ imprisonment and a minimum fine of RM10,000 or up to five times the sum or value of the bribe, whichever is higher.

Criminal breach of trust under Section 409 of the Penal Code carries a penalty of a minimum of two years’ and a maximum 20 years’ imprisonment, whipping and fine.

As for money laundering under Section 4 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, the punishment is a maximum 15 years’ jail term and a fine of up to five times the amount of money laundered or RM5 million, whichever is higher.

Najib guilty of all 7 charges in RM42m misappropriation of SRC International funds
Najib guilty of all 7 charges in RM42m misappropriation of SRC International funds

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