KUALA LUMPUR: The High Court here has found former prime minister Datuk Seri Najib Razak guilty on all seven counts in the first in a series of cases involving the 1Malaysia Development Bhd (1MDB) scandal.
Najib was charged with one count of abuse of power, three counts of criminal breach of trust (CBT), and three counts of money laundering, all involving RM42mil misappropriated from SRC International Sdn Bhd, a 1MDB subsidiary.
He faces imprisonment of up to 20 years and a fine for the abuse of power charge; up to 20 years’ prison, whipping and a fine for the three CBT charges; and up to 15 years in jail and a fine for the money laundering charges.
The conviction of Najib, the scion of a political dynasty, was seen as a win for the rule of law even after his allies in government returned to power in March, taking control from the reformist government that ousted him in 2018.
Tuesday’s trial was the first of five related to the theft of billions from the 1Malaysia Development Berhad fund and Najib was found guilty on all seven charges of abuse of power, breach of trust and money laundering.
Experts said the verdict could be overturned on appeal.
The missing money was traced by prosecutors to the purchases of a megayacht and a Picasso painting, as well as an investment in the Hollywood blockbuster “The Wolf of Wall Street.” About $1 billion of the money ended up in Najib’s personal bank accounts, creating a national scandal that led to the ouster of his party, the United Malays National Organization, in elections two year ago.
The court rejected Najib’s defense that the theft was carried out without his knowledge by Jho Low, a wealthy Malaysian businessman who is accused of masterminding the crime and remains an international fugitive.Najib, 67, still faces dozens of additional charges and at least two more trials. Many of the charges against him carry a sentence of up to 20 years.
But Najib remains a member of Parliament, and his party, popularly known as UMNO, returned to power in February, improving the chances that he will never spend a day behind bars.(With inputs from NYT and Star)
