Did Najib declare his conflict of interest in SRC meetings?

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Najib Must Enter Defence for RM42 Million SRC Case

The High Court has ruled that former prime minister Datuk Seri Najib Razak must present his defence against charges related to RM42 million misappropriated from SRC International. The prosecution successfully established a prima facie case on all seven charges, demonstrating sufficient evidence to warrant a trial. Najib faces three counts of criminal breach of trust and one count of abuse of position concerning RM42 million from SRC International, alongside three charges of money laundering the same sum.
Role in SRC International's Establishment and Loan Acquisition

The High Court judge, Mohd Nazlan Mohd Ghazali, found that Najib played a significant role in the establishment of SRC International and the securing of its RM4 billion loan from the Retirement Fund Incorporated (KWAP). Najib's positions as prime minister and finance minister afforded him the authority to influence SRC International's formation. Furthermore, he was instrumental in amending the company's articles to appoint himself as its adviser emeritus, requiring strategic matters to be referred to him.
Failure to Disclose Conflict of Interest in Cabinet Meetings

Crucially, Najib failed to disclose or recuse himself from deliberations and approvals concerning Cabinet memorandums for two government guarantees for SRC International's loans from KWAP. These approvals occurred during two separate Cabinet meetings that he chaired. The court rejected the argument that Najib merely made requests for the loans, asserting that his positions meant these requests were effectively directives that would be obeyed, and the RM4 billion loan would not have been approved without government guarantees.
Knowledge of Conflict and Intent to Obtain Gratification

The judge determined that Najib knew or should have known about the conflict between his public duties as prime minister and finance minister and his private interests in SRC International, which was seeking government guarantees. The intention to obtain gratification was inferred from his failure to avoid this conflict of interest during Cabinet meetings. The RM42 million funds were subsequently transferred into Najib's personal AmBank accounts and used to his advantage, with the misappropriation occurring even before the funds reached his accounts.
Proceeds of Unlawful Activities

The court concluded that Najib knew the RM42 million constituted proceeds of unlawful activities. This conclusion was based on his failure to take reasonable steps to ascertain the origin of the funds, particularly given the substantial volume and frequency of transactions in his personal bank accounts. The misappropriation resulted in wrongful loss to SRC International, and the funds ultimately credited to Najib's accounts were construed as proceeds of these unlawful activities.

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Did Najib declare his conflict of interest in SRC meetings?

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