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KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak wielded absolute power in decision-making when it came to SRC International Sdn Bhd, including the utilisation and disbursement of a RM4bil loan from the Retirement Fund Inc (KWAP), the High Court heard.
KUALA LUMPUR: A former director of SRC International Sdn Bhd has refuted claims by Datuk Seri Najib Razak who placed the blame on SRC's former directors for the losses incurred by the subsidiary of 1Malaysia Development Bhd (1MDB).
KUALA LUMPUR: The Attorney General’s Chambers (AGC) has yet to decide on the representation by Datuk Seri Najib Tun Razak to drop his three other charges of money laundering involving SRC International Sdn Bhd funds amounting to RM27mil.
KUALA LUMPUR: The High Court has been told that a company linked to fugitive businessman Low Taek Jho or Jho Low, which received US$15mil from SRC BVI, transferred out the funds to several prominent individuals.
KUALA LUMPUR: The High Court here was told that a RM1.8bil loan taken out by SRC International Sdn Bhd from Retirement Fund Inc (KWAP) was never used for investments in the energy and resource sectors, a purpose it was intended for.