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10 APRIL 2024

Wednesday, August 24, 2016

Lawyer Hafarizam to represent PM in Zaid's suit


Lawyer Mohd Hafarizam Harun has been appointed by Prime Minister Najib Abdul Razak with regard to the representative action suit filed by former minister Zaid Ibrahim.
"I am solely appointed to represent the PM in the suit,” the lawyer said, adding that he expected to receive the letter of appointment later today.
"I don't know who will be representing 1MDB and (Najib’s stepson) Riza Aziz," he told reporters after the case management of Najib's suit against former MCA president Dr Ling Liong Sik.
Hafarizam ironically had once practiced at the law firm of Zaid & Co, considered to be the largest in the country.
Zaid had named Najib, 1MDB, the Malaysian government and Riza Aziz as defendants in the suit for breach of fiduciary duty.
The former minister wants the prime minister to return the US$731 million deposited into his private banking accounts to the government.
Zaid also wants the RM42 million, which Najib received from 1MDB former subsidiary SRC International Sdn Bhd, to be returned to the government and 1MDB as well.
Zaid filed the action in the High Court in Kuala Lumpur last week, through lawyer Americk Sidhu's law firm.
The former de-facto law minister claimed that Najib, as trustee of 1MDB, has a duty to protect and preserve the assets of the sovereign state fund, and not convert or misappropriate any of its assets for his own use, or for the use of any person not entitled to the property.
Zaid also alleged that Najib had misappropriated RM42 million as a bribe or financial inducement by using his influence over Kumpulan Wang Persaraan (Retirement Fund Inc) to make a loan to SRC International.

As a result of this, Zaid said, Najib is liable to make restitution (to return or recompense the money) to the government.
He also said as US$731 million had entered into Najib's personal account allegedly from 1MDB funds, he is likewise liable for restitution to the government.
The US$731 million consists of the purported and highly publicised US$681 million deposited in Najib's Ambank accounts prior to the 13th general election in March 2013, and also the US$20 million he allegedly received from Good Star Ltd between February and June 2011, as well as the US$30 million he allegedly received from Aabar BVI between October and November 2012.-Mkini

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