KUALA LUMPUR, March 31 — The High Court has found former prime minister Datuk Seri Najib Razak liable for US$1.18 billion (RM4.77 billion) in losses incurred by SRC International Sdn Bhd due to a breach of fiduciary duties.
As reported by Free Malaysia Today (FMT), Justice Ahmad Fairuz Zainol Abidin held that Najib abused his position and acted in bad faith, resulting in the misappropriation of funds into his personal account.
The court ordered Najib to pay a total of US$1.3 billion (RM5.25 billion), which includes both the losses suffered by the company and additional damages.
The sum awarded comprises US$1.18 billion in losses alongside US$120 million in quantified damages.
The court also allowed an interim stay of execution to enable Najib to file a formal application for a stay pending appeal within 14 days.
The issue of legal costs arising from the case will be determined at a later stage.
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