Malaysian former Prime Minister Datuk Seri Najib Razak was ordered to enter his defence for abusing RM42 million of SRC International funds. (Source: nst.com.my)

Delivering his decision the same day, High Court Judge Mohamad Nazlan Mohamad Ghazali said the SRC International – a former 1MDB unit, suffered losses worth 42 million MYR (10 million USD).

The judge said the prosecution had successfully adduced credible evidence proving each and every essential ingredient of the offences.

During the trial, the prosecution tendered more than 750 exhibits, including bank documents relating to Najib’s bank accounts, cash transactions, minutes of meetings and messenger chats over Najib’s transactions.

The 66-year-old will be taking the stand on December 3 when the trial resumes.

He faces seven charges of abusing his position for gratification, criminal breach of trust and money laundering involving RM42 million of SRC International’s funds.

If found guilty, Najib would face an imprisonment of up to 20 years and a fine not less than five times the sum or value of the gratification which is the subject matter of the offence.

The 1MDB was founded by Nazib in 2009 with an aim for socio-economic development. Malaysian and US investigators believe that the fund has looted about 4.5 billion USD, about 1 billion USD of which was sent to the former Malaysian PM’s personal bank account./.VNA