KUALA LUMPUR: Ad-hoc prosecutor Datuk V. Sithambaram told the High Court here today that former prime minister Datuk Seri Najib Abdul Razak (pix) should have stepped down from his post as the Finance Minister, to take responsibility over developments concerning the Minister of Finance Incorporated-owned SRC International Sdn Bhd.
Citing the Westminster model of governance, he said, the finance minister in-charge would have resigned if problems like the one surrounding SRC occurred.
Sithambaram : If something like this happened in the Westminster model of government, the finance minister would have resigned. Do you agree?
Najib: I disagree. I reserve my comment for later. Actually, I had lot to say ... there were many examples that I could give.
Sithambaram: It’s okay sir. This is my case. Please don’t make a political speech.
Najib: You are the one suggesting it. So if an aeroplane goes missing, the minister of transport must resign? Ridiculous.
Sithambaram: Datuk Seri, I’m suggesting to you that you should take responsibility in this case.
Najib: Disagree.
The heated argument between the former prime minister and Sithambaram over the matter stopped after judge Mohd Nazlan Mohd Ghazali, who is presiding over the case, told them to move on to the next question.
Najib is making his defence on seven charges of misappropriating RM42 million in SRC International funds, comprising three counts of criminal breach of trust, three counts of money laundering and one count of abuse of position in relation to the SRC funds.
To another question, Najib said that he was not aware that SRC was not making any investment.
Sithambaram: Why did not you step in? It involved pensioners’ money, how could you have not known?
Najib: There is a system of reporting, I did not know at that time.
Sithambaram: But you kept quiet for seven years, the alarm bells were ringing but you did nothing. Do you agree or disagree?
Najib: No, I disagree.
When Sithambaram suggested that there was no investments made by SRC, Najib said he only knew about it today.
Sithambaram: You agree that until you left office, nothing was done to justify the loan from the Retirement Fund (Incorporated) (KWAP).
Najib: The loans were granted on the basis that SRC was going to make investments.
During previous proceedings, the court was told that KWAP had granted loans amounting to RM4 billion to SRC following Najib’s involvement.
The hearing continues. - Bernama
