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SRC case: BSI did not check Jho Low’s claims of representing Najib, says ex-banker | Scoop
The KL High Court has been told that BSI Bank did not check on Low Taek Jho's claim that he was acting on behalf of Datuk Seri Najib Razak's (pic) instructions in matters concerning SRC International Sdn Bhd. – Azim Rahman/Scoop pic, March 7, 2024
News

SRC case: BSI did not check Jho Low’s claims of representing Najib, says ex-banker

Witness agrees with counsel that simple counter-check will prevent millions from being funnelled into SRC BVI account

Bernama
Updated
5:56 PM MYT

 

KUALA LUMPUR – The high court here was told today that a simple counter-check by BSI Bank would confirm fugitive businessman Low Taek Jho’s claim that he was acting on behalf of Datuk Seri Najib Razak’s instructions in matters concerning SRC International Sdn Bhd’s. 

Former BSI Bank head of wealth management services Kevin Micheal Swampillai, 64, also agreed with counsel Tan Sri Muhammad Shafee Abdullah, representing Najib, that a simple check would also prevent millions of dollars from being funnelled from SRC International into SRC International (Malaysia) Ltd’s (SRC BVI) account at the bank.

Questioned by Shafee, Swampillai admitted that he was aware that Low Taek Jho, or Jho Low, made representations that he was acting for SRC International under Najib’s instructions, although he (Jho Low) had no documents to back it up. 

Former BSI Bank head of wealth management services Kevin Micheal Swampillai (pic) has agreed with Najib’s counsel Tan Sri Muhammad Shafee Abdullah that a simple check would also prevent millions of dollars from being funnelled from SRC International into SRC International (Malaysia) Ltd’s account at the bank. – Azim Rahman/Scoop pic, March 7, 2024

“You know that Jho Low has this habit of name-dropping. You admitted it in your witness statement before.

“Nobody made a counter-check whether this character (Jho Low) was really SRC’s representative?” asked Shafee.

To that, Swampillai replied: “If your question is, if nobody from BSI checked with the (former) prime minister, (then) no.”

Shafee then further questioned if a simple check could have prevented the transactions from going further, and the witness agreed.

Swampillai was testifying as the first witness in SRC International Sdn Bhd’s US$1.18 billion lawsuit against Najib before justice Datuk Ahmad Fairuz Zainol Abidin.   

Also named as a defendant in the suit is former SRC International chief executive officer Nik Faisal Ariff Kamil. 

SRC, under its new management, filed the suit in May 2021, claiming that Najib had committed a breach of trust and power abuse, personally benefited from the company’s funds, and misappropriated the said funds. 

The company is seeking general, exemplary and additional damages – as well as interest, costs and other appropriate relief provided by the court.  

It is also seeking a court declaration that Najib is responsible for the company’s losses due to his breach of duties and trust, and demand for Najib to return the RM42 million in losses that they have suffered.  

Najib, 70, has been serving a jail sentence at the Kajang Prison since August 23, 2022, after being convicted of misappropriating RM42 million in SRC International funds. 

After he filed a petition for a royal pardon on September 2, 2022, Najib’s prison sentence was reduced from 12 years to six years and the fine was cut to RM50 million from RM210 million. 

The hearing continues on March 11. – March 7, 2024

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