KUALA LUMPUR (Jan 8): Former prime minister Datuk Seri Najib Razak admitted at the High Court today that he had benefited from the money allegedly deposited from fugitive businessman Low Taek Jho, better known as Jho Low, into his personal accounts.
The Penang-born financier had purportedly transferred some RM80 million to RM90 million into the former premier's accounts, according to appointed prosecutor Datuk V Sithambaram, who was cross-examining Najib this morning during the SRC International Sdn Bhd trial.
"You say you are a victim of Jho Low's manipulation but you gained, as a victim you gained," Sithambaram put to him.
"Yes, the way you put it yes," he replied.
"Usually victims will lose money," noted the deputy public prosecutor, to which Najib concurred.
"Here, it looks like the manipulator [Jho Low] lost money," added Sithambaram.
Najib replied: "I cannot say."
Sithambaram then said: "I'm putting it to you that there is no way Jho Low was manipulating the account of the PM, Finance Minister and the most powerful political figure at that time," to which Najib disagreed.
Previously, the Pekan MP had claimed that Jho Low had manipulated his accounts as he had only given the mandate to former SRC International Sdn Bhd managing director Nik Faisal Ariff Kamil.
However, yesterday, he agreed that Jho Low and Datuk Azlin Alias, his deceased former private secretary, were also tasked with handling his accounts.
'Bank should have informed me'
The former premier refuted the prosecution's assertion that as AmBank's customer, he was duty-bound to inform the bank of any unusual transactions in his account.
"The bank and Bank Negara should have informed me," he said.
This comes after Sithambaram again clarified that around RM85 million went into Najib's accounts via cash deposits and cheques.
The accused also admitted that he was not aware of the accounts' balance but continued issuing cheques nonetheless.
"I do not ask my balance in the account but I only ask Azlin whether I can issue cheques," said Najib, who was also finance minister.
He maintained his position that he believed the money was a donation from Saudi Arabia, saying he met the late King Abdullah, who confirmed a cash gift to Najib as he was impressed with Malaysia's status as a moderate Muslim country with a significant non-Muslim population.
He said at that time he was under the impression that the money arranged by Jho Low was part of the Saudi donation.
"That is why I continue to spend it including for corporate social responsibility purposes," he said, adding that he was not the only Umno president to do so.
While Sithambaram showed Najib that his accounts had run into overdraft and that it was not possible the money came from the Arab donation, Najib reiterated that he thought the funds had come from King Abdullah.
"I do not know the identity of the persons who transferred the money and I did not check with my bank," he maintained.
Sithambaram then put this to Najib: "The reason you are denying knowledge of such a large sum entering your account and you having spent those RM42 million is to deny knowledge of the charges against you."
The former premier disagreed.
Quoting Najib, Sithambaram suggested to the former premier that his statement was "tak masuk akal" (illogical).
"I disagree," he replied.
He then affirmed that while he was not responsible for the funds entering his accounts, he was responsible for spending the money.
The hearing continues tomorrow before Justice Mohd Nazlan Mohd Ghazali.
The Edge is reporting the proceedings of the SRC trial live.