ENOUGH IS ENOUGH! FORMER UMNO SENATOR SUES NAJIB & CO FOR US$3.6BIL OVER ‘WRONGFUL LOSSES’ INCURRED BY 1MDB

Parti Bebas Rasuah (PBR) president Mohd Ezam Md Noor has filed a lawsuit against Prime Minister Najib Abdul Razak and 15 others for US$3.657 billion over the losses incurred by 1MDB.

The suit was filed with the Kuala Lumpur High Court today.

In his statement of claim, Ezam, who is a former Umno senator, said the 16 are jointly responsible for the matter.

Najib is being sued in his capacity as finance minister and chief executive of the government while 1MDB and the government are also named as defendants.

Among the other defendants are treasurer-general Mohd Irwan Serigar Abdullah, 1MDB president Arul Kanda and former 1MDB directors.

“1MDB obtained finance for itself through borrowings from third parties through the issuance of bonds.

“The said borrowings and loans were obtained by 1MDB with the approval of Najib,” said Ezam in the statement of claim.

Accusing Najib and nine former 1MDB directors of being in breach of fiduciary duty, he claimed the 10 acted in concert, caused or produced the sum of US$3.66 billion to be paid out to persons who were not entitled to receive the sum.

Ezam accused them of intentionally causing “wrongful losses” for 1MDB.

“The purpose of filing the action is to allow the court to determine who is liable for the losses of 1MDB,” he told the media at the Jalan Duta court complex in Kuala Lumpur after filing the suit.

Ezam added that he is seeking to recover 1MDB’s losses through the court process.

MKINI