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Najib denies liability in SRC US$1.1b suit, blames board for fund misuse
By Administrator
Published on 07/09/2025 08:00
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Najib Razak’s lawyer told the High Court that the former prime minister had no direct role in approving or directing SRC International’s fund transfers. He argued Najib only selected a reputable financial institution and left fund management to the company’s board. The lawyer blamed former CEO Nik Faisal Ariff Kamil, fugitive Jho Low, and others for the alleged misappropriation of funds.

SRC International, now owned by the Ministry of Finance, is suing Najib for US\$1.18 billion in losses, claiming he abused his power and misused funds, including US\$120 million that allegedly ended up in his account. Najib, currently serving a reduced jail sentence, has named former SRC directors as third-party respondents, arguing they should be held primarily liable.

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