What is the core allegation in the RM4 billion SRC International lawsuit?

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The Core Allegations in the RM4 Billion SRC International Lawsuit

The central claims in the RM4 billion SRC International lawsuit revolve around alleged conspiracy, breach of trust, and abuse of power by the defendants, including former Prime Minister Datuk Seri Najib Razak. These allegations are linked to the utilisation of a RM4 billion loan obtained from the Retirement Fund Inc (KWAP) in 2011 and 2012.
Breach of Trust and Abuse of Power

SRC International alleges that the defendants conspired and committed a breach of trust concerning the RM4 billion loan. Specifically, it is claimed that the former prime minister abused his authority, personally benefited from SRC funds, and misappropriated these funds. This forms the primary basis of the legal action brought forth by SRC's new management.
Failure to Monitor Loan Utilisation

The lawsuit also contends that SRC's former directors failed to exercise due diligence in overseeing the RM4 billion loan from KWAP. It is alleged that these directors did not take reasonable steps to ensure the loan funds were appropriately used for the company's investment activities and working capital needs.
Mismanagement of Funds and Investments

Further allegations detail a lack of oversight regarding the disposal of RM3.6 billion of the loan to SRC BVI, purportedly for overseas investments. The former directors are accused of failing to monitor the Malaysian government's exposure to guarantees provided to SRC and neglecting to investigate the alleged misappropriation of company funds. The new management's review indicated that numerous withdrawals, transfers, and uses of the KWAP loans were fraudulent or improper.

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What is the core allegation in the RM4 billion SRC International lawsuit?

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