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The High Court in Putrajaya convicted former Malaysian Prime Minister Najib Razak on Friday in a case arising from the 1Malaysia Development Berhad (1MDB) scandal. The court found him guilty on four counts of abuse of power and 21 counts of money laundering. The charges accused Najib of channeling more than US$700 million in 1MDB-linked funds into accounts connected to him.
The court sentenced Najib to 15 years in prison and imposed a fine of approximately US$3.3 billion. The judgment took more than five hours to deliver. Justice Collin Lawrence Sequerah found that Najib was the de facto decision maker in the relevant transactions. The judge ruled that the defence failed to raise a reasonable doubt and rejected the claim that the money constituted donations from the Saudi royal family or that rogue financiers misappropriated it. The court concluded that, in his capacity as Prime Minister and Finance Minister, Najib channeled millions of dollars in illicit funds into his personal bank accounts.
Najib is a longtime figure in Malaysian politics and the son and nephew of former prime ministers. He won a seat in Parliament at the age of 22 and served as Prime Minister from 2009 to 2018.
Najib oversaw the creation of 1MDB in his first year as prime minister to fund national development through strategic investments. Prosecutors allege that the fund was instead used as a vehicle for large-scale corruption and financial fraud, with billions of dollars misappropriated through shell companies and offshore accounts. Investigators traced more than US$4.5 billion in funds diverted from 1MDB between 2009 and 2015. Prosecutors stated that the money was used to finance luxury purchases, including a mega yacht, a Picasso painting, and the film The Wolf of Wall Street.
Najib has long maintained his innocence. In 2022, he said, “I have tried all I can, but everything I proposed to the court was rejected. I did not get my justice, and I did not get a fair trial.” The court’s ruling makes clear that the court rejected these arguments and found the evidence of his role in the 1MDB misappropriation compelling.
The post Former Malaysia Prime Minister Najib Razak convicted over 1MDB corruption scandal appeared first on JURIST - News.
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The court sentenced Najib to 15 years in prison and imposed a fine of approximately US$3.3 billion. The judgment took more than five hours to deliver. Justice Collin Lawrence Sequerah found that Najib was the de facto decision maker in the relevant transactions. The judge ruled that the defence failed to raise a reasonable doubt and rejected the claim that the money constituted donations from the Saudi royal family or that rogue financiers misappropriated it. The court concluded that, in his capacity as Prime Minister and Finance Minister, Najib channeled millions of dollars in illicit funds into his personal bank accounts.
Najib is a longtime figure in Malaysian politics and the son and nephew of former prime ministers. He won a seat in Parliament at the age of 22 and served as Prime Minister from 2009 to 2018.
Najib oversaw the creation of 1MDB in his first year as prime minister to fund national development through strategic investments. Prosecutors allege that the fund was instead used as a vehicle for large-scale corruption and financial fraud, with billions of dollars misappropriated through shell companies and offshore accounts. Investigators traced more than US$4.5 billion in funds diverted from 1MDB between 2009 and 2015. Prosecutors stated that the money was used to finance luxury purchases, including a mega yacht, a Picasso painting, and the film The Wolf of Wall Street.
Najib has long maintained his innocence. In 2022, he said, “I have tried all I can, but everything I proposed to the court was rejected. I did not get my justice, and I did not get a fair trial.” The court’s ruling makes clear that the court rejected these arguments and found the evidence of his role in the 1MDB misappropriation compelling.
The post Former Malaysia Prime Minister Najib Razak convicted over 1MDB corruption scandal appeared first on JURIST - News.
Continue reading...
Note: We don't have any responsibilities about this news. Its been posted here by Feed Reader and we had no controls and checking on it. And because News posted here will be deleted automatically after 21 days, threads are closed so that no one spend time to post and discuss here. You can always check the source and discuss in their site.