How much SRC funds are allegedly misappropriated by Najib Razak?

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RM42 Million in SRC Funds Allegedly Misappropriated by Najib Razak

SRC International Sdn Bhd alleges that Datuk Seri Najib Razak misappropriated RM 42 million in funds. These funds were purportedly transferred to two accounts owned by Najib between December 2014 and February 2015 for corporate social responsibility (CSR) purposes. SRC is seeking a declaration to trace these funds and assert ownership over them or any property acquired using the money.
Allegations of Breach of Trust and Duty

SRC International, a subsidiary of 1Malaysia Development Berhad (1MDB), filed a suit alleging that Najib Razak, who served as SRC's Emeritus Advisor from May 1, 2012, to March 4, 2019, committed a breach of trust, misused his authority, and personally benefited from SRC funds. The company claims these actions led to the misappropriation of the funds.
Transfer of Funds for CSR Purposes

The lawsuit details that SRC withdrew RM 123 million in funds between December 2014 and April 2015. These funds were reportedly deposited into a bank account held by Ihsan Perdana Sdn Bhd (IPSB) for CSR initiatives, with a grant given to IPSB without the approval of the boards of SRC and its subsidiary Gandingan Mentari Sdn Bhd.
Tracing of RM42 Million to Najib's Accounts

Specifically, SRC claims that IPSB transferred RM 42 million of the grant money to two separate bank accounts held by Najib Razak. This alleged transfer occurred between December 2014 and February 2015, purportedly for CSR activities.
Legal Action for Recovery and Damages

SRC International is seeking a court declaration affirming its right to follow and trace the RM 42 million. The company also demands equity ownership of the funds or any assets acquired by Najib using this money. Additionally, SRC is claiming general, exemplary, and aggravated damages as part of its legal action.

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How much SRC funds are allegedly misappropriated by Najib Razak?

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