SRC appeal: Prosecutor insists Najib was ‘shadow director’, ‘puppeteer’ of former 1MDB unit’s board
19 Apr 2021

As ‘shadow director’ of SRC International Sdn Bhd, Datuk Seri Najib Razak was a “puppeteer” in absolute control of the “puppets” on the company’s board who had to execute his instructions, prosecutors told the Court of Appeal today.

Ad hoc prosecutor Datuk V. Sithambaram said this during rebuttal to Najib’s appeal hearing against his conviction and jail sentence for misappropriating RM42 million belonging to the former 1MDB subsidiary.

In his submission on Najib’s three criminal breach of trust (CBT) charges, Sithambaram said Najib’s acts clearly brought him within the ambit of the definition of a director and that the latter was effectively a “shadow director” in how he conducted himself in relation to SRC’s affairs.

“The definitive element in that the acts, directions and instructions are those that the directors of the company are accustomed to issue or act akin to a shadow director.

“That is exactly how the affairs of SRC were conducted by the appellant.

“The appellant, although not a director formally appointed, was in fact the shadow director of SRC by virtue of the fact that the SRC board were accustomed to act on the instructions or directions of the appellant,” he said.

By Kenneth Tee, Malay Mail, 19 April 2021

Read more at Malay Mail

RiskScreen: Eliminating Financial Crime with Smart Technology

You can claim CPD minutes for this content, by signing up to our CPD Wallet