Najib to pay RM1 million bail in 2 instalments, passport seized

Reuters pic

KUALA LUMPUR: The High Court today set a bail amount of RM1 million on former prime minister Najib Razak, who is facing four charges linked to RM42 million transferred into his private bank account.

Judge Sofian Abdul Razak set the amount despite prosecutors applying for a total of RM4 million as bail for the four charges.

The court allowed Najib to pay the first half of RM500,000 today, with the balance to be settled by 3pm next Monday.

Najib’s bailers are his children, Norashman and Najwa.

Muhammad Shafee Abdullah, who is leading Najib’s defence team, earlier argued that the amount was too high, and asked for a reduction of between RM500,000 and RM800,000, or for land titles to be accepted as collateral.

The court also granted an interim gag order until Aug 8, when the case will be mentioned and an application for a full gag order will be heard.

It proposed a total of 19 days for the trial next year, from Feb 18-28, March 4-8 and March 11-15, not including weekends.

The case was transferred to the High Court after the four charges were read at the Sessions Court.

The former leader pleaded not guilty to all the charges, which includes criminal breach of trust and abuse of power in relation to the transfer of RM42 million from SRC International Sdn Bhd.

Each of the four charges carries a prison sentence of up to 20 years. The abuse of power charge carries a fine of not less than five times the value of gratification.

In the first CBT charge, Najib as prime minister, finance minister and adviser to SRC International, is accused of transferring RM27 million from the company into his private bank account at AmIslamic Bank Bhd in Kuala Lumpur.

In the second charge, he is accused of transferring RM5 million from SRC International into his bank account during the same period.

In the third charge, he is accused of transferring another RM10 million from the company into his account.

A fourth charge on abuse of power accuses Najib of using his position to siphon off RM42 million, while giving government guarantees on SRC’s RM4 billion loan from the Retirement Fund Inc (KWAP).

http://www.freemalaysiatoday.com/category/nation/2018/07/04/najib-charged-with-multi-billion-ringgit-cbt-abuse-of-power/