How did SRC International funds flow through layered transactions?

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Funds from SRC International Loan Underwent Layered Transactions Leading to Najib's Account

Evidence presented in court indicates that a portion of the RM4 billion loan obtained by SRC International from the Retirement Fund Incorporated (KWAP) was subjected to a series of complex, multi-jurisdictional transfers. These transactions ultimately resulted in US$120 million being channelled back into former Prime Minister Datuk Seri Najib Razak's bank account. The structured flow of these funds is central to the civil suit filed by SRC International.
Initial Loan Disbursement and Diversion

The RM4 billion loan, secured from KWAP, was not directly used for its intended purposes but rather became the source for a sequence of fund movements. A specific portion of this substantial loan was first directed to BSI Bank in Singapore. This initial transfer marked the beginning of a complex financial pathway designed to obscure the ultimate destination of the funds.
Intermediate Transfers Through Offshore Entities

Following the disbursement to BSI Bank Singapore, the funds were further moved to the Enterprise Emerging Market Fund, an entity located in Curacao. This offshore intermediary played a role in the layering process. Subsequently, these funds were transferred to Blackstone Asia Real Estate Partners Ltd, a company based in the British Virgin Islands, continuing the pattern of international financial movement.
Final Destination and Amount Returned

The culmination of these layered transactions saw a sum of US$120 million being returned to Najib's personal bank account. This repatriation of funds from the offshore entities represents the final stage of the alleged fraudulent scheme. SRC International's legal team aims to demonstrate that Najib orchestrated this complex flow of money for his personal enrichment, causing losses to the company and the Malaysian public.

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How did SRC International funds flow through layered transactions?

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