KUALA LUMPUR (Aug 15): SRC International Sdn Bhd and its subsidiary want the return of their RM42 million that went into former prime minister Datuk Seri Najib Razak's private accounts.
"Ten years have since passed since the sum found its way to the defendant’s bank accounts,” Kwan Will Sen, the counsel for SRC and Gandingan Mentari Sdn Bhd, said in kicking off the trial on Friday. “Today, we begin the trial process for the plaintiffs to recoup what is rightfully theirs.”
He asserted that this case is about betrayal.
"The facts are stark,” Kwan said, noting that “public money, funds meant to secure Malaysia's energy future and intended for the benefit of civil service pensioners, ended up in the personal bank accounts of our former prime minister”.
Friday's case is one of the 25 lawsuits filed by 1Malaysia Development Bhd (1MDB), the state investment company plagued by financial scandals, and SRC back in 2022.
Among others, both SRC and Gandingan Mentari are seeking a declaration that Najib is liable to them for receiving RM42 million and claiming damages for the knowing receipt, dishonest assistance, tort of misfeasance and abuse of power.
The RM42 million at the heart of this case is the same funds transmitted between Dec 26, 2014 and Feb 10, 2015 in Najib's criminal SRC case where he was found guilty for criminal breach of trust, money laundering and abuse of power. Najib is currently serving his prison sentence.
On Friday, Kwan also asserted that unlike criminal cases which needed to be proven beyond reasonable doubt, the civil action only needs proof on the balance of probabilities that Najib did receive the RM42 million and that he was aware that the funds were tainted.
Najib is already entangled in another civil suit involving SRC seeking a declaration from the court that he is liable to account for the company's losses of US$1.18 billion due to breach of duties and trust.
The company is also asking for an order for Najib to compensate US$120 million and former chief executive officer Nik Faisal Ariff Kamil to pay US$2 million to SRC, as well as damages. The matter has yet to conclude.