Malaysian ex-PM Najib Razak found guilty in 1MDB trial: What we know

EXPLAINER

The justice is yet to present the implicit verdict, but Najib has been recovered blameworthy of maltreatment of powerfulness and wealth laundering.

Former Malaysian Prime Minister Najib Razak was recovered guilty of maltreatment of powerfulness and wealth laundering by the Kuala Lumpur High Court successful a large proceedings related to a multibillion-dollar ungraded implicit the country’s sovereign wealthiness fund, 1MDB, connected Friday.

What was the verdict against Najib?

Najib, 72, has been recovered blameworthy of 4 counts of maltreatment of powerfulness and 21 counts of wealth laundering linked to the amerciable transportation of astir 2.2 cardinal Malaysian ringgit ($543m) from 1MDB much than a decennary ago.

Each complaint carries betwixt 15 and 20 years’ imprisonment, though sentencing has yet to beryllium announced.

This was Najib’s 2nd proceedings linked to the aforesaid fiscal scandal. His archetypal proceedings for embezzlement of funds began successful April 2019. In 2020, helium was convicted of maltreatment of power, wealth laundering and breach of trust, and sentenced to 12 years’ imprisonment implicit the misappropriation of $9.9m successful 1MDB funds. His condemnation was aboriginal chopped successful fractional successful a partial pardon.

In all, investigators said they judge immoderate $4.5bn was siphoned from the state-owned wealthiness money into backstage accounts, including Najib’s. Legal proceedings for some his trials person spanned 7 years and seen lawyers telephone 76 witnesses to the stand, including Najib himself.

Najib and his supporters – dozens of whom gathered astatine the tribunal connected Friday – assertion the charges against him are politically motivated and that helium was misled by his advisers.

But Judge Collin Lawrence Sequerah said successful his verdict: “The contention by the accused that the charges against him were a witch hunt and politically motivated were debunked by the cold, hard and incontrovertible grounds against him that pointed towards the accused having abused ‍his ain almighty presumption successful ⁠1MDB, coupled with the extended powers conferred upon him.”

What is 1MDB?

1MDB is an abbreviation utilized for the 1Malaysia Development Berhad, a Malaysian sovereign wealthiness fund. Berhad is the Malay word for “public constricted company”.

The money was acceptable up successful 2009 to beforehand improvement successful Malaysia done overseas partnerships and investment.

Najib, who served arsenic some premier curate and concern curate betwixt 2009 and 2018, was besides the president of 1MDB.

Prosecutors claimed that Najib abused his presumption arsenic premier minister, concern curate and 1MDB advisory committee president to determination ample amounts of wealth from the Malaysian sovereign wealthiness money to his idiosyncratic accounts much than a decennary ago.

Where is Najib now?

Najib is successful Kajang Prison successful Malaysia’s Selangor state, having been recovered blameworthy of embezzlement successful the first, abstracted lawsuit successful 2020. His condemnation was aboriginal commuted from 12 years to six years aft helium received a partial royal pardon. He was owed to beryllium released connected August 23, 2028.

During this 2nd trial, which resulted successful the verdict connected Friday this week, investigators recovered that Najib utilized the 1MDB funds to bargain his superyacht Equanimity and high-end properties, arsenic good arsenic to concern the accumulation of the film, The Wolf of Wall Street, starring Leonardo DiCaprio.

What has Najib said?

Najib, who was defeated successful the 2018 wide predetermination by Mahathir Mohamad, a erstwhile premier curate who had helped him travel to power, has consistently denied immoderate wrongdoing successful the 1MDB scandal.

In October 2024, helium apologised for mishandling the scandal, but maintained that helium had nary cognition of the amerciable money transfers to his idiosyncratic slope account. During the trial, Najib said helium believed the wealth helium received was a donation from the precocious Saudi King Abdullah – a assertion that the justice rejected connected Friday.

Najib besides claimed that helium had been deceived by advisers and different officials affiliated with 1MDB, including Jho Low, a Malaysian financier alleged to beryllium the mastermind down the ungraded but who remains astatine large.

“It pains maine each time to cognize that the 1MDB debacle happened nether my ticker arsenic curate of concern and premier minister,” Najib said successful a letter.

“For that, I would similar to apologise unreservedly to the Malaysian people.”