Former Malaysian PM gets 12 years jail, $50-million fine in 1MDB trial

Former Malaysian Prime Minister Najib Razak in a verdict on July 28 has been found guilty on all seven charges in the first trial on the multi-billion dollar financial scandal surrounding state fund 1Malaysia Development Berhad, or 1MDB.

The charges include three counts of money laundering, three counts of criminal breach of trust and one count of abuse of power.

He was sentenced to 12 years in prison for abuse of power and ten years in jail for each of six counts of money laundering and breach of trust. The sentences are to run concurrently. He was also handed a fine of 210 million ringgits (nearly $50 million) over his involvement in the 1MDB scandal, which saw the transfer of millions of dollars from the fund to his private accounts.

“Case proven beyond reasonable doubt” – judge

“After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a reasonable doubt,” judge Mohamad Nazlan Mohamad Ghazali told the Kuala Lumpur High Court.

Najib, who pleaded not guilty to the charges, said that he was being misled by financial advisers, in particular fugitive financier Jho Low, who, in turn, insists on his innocence.

The disgraced ex-premier is expected to remain out of prison until appeals are exhausted. However, he still faces dozens of other charges in additional trials also related to the 1MDB scandal.

The cases against him are seen as a test of Malaysia’s anti-corruption efforts.



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Former Malaysian Prime Minister Najib Razak in a verdict on July 28 has been found guilty on all seven charges in the first trial on the multi-billion dollar financial scandal surrounding state fund 1Malaysia Development Berhad, or 1MDB. The charges include three counts of money laundering, three counts of criminal breach of trust and one count of abuse of power. He was sentenced to 12 years in prison for abuse of power and ten years in jail for each of six counts of money laundering and breach of trust. The sentences are to run concurrently. He was also handed a...

Former Malaysian Prime Minister Najib Razak in a verdict on July 28 has been found guilty on all seven charges in the first trial on the multi-billion dollar financial scandal surrounding state fund 1Malaysia Development Berhad, or 1MDB.

The charges include three counts of money laundering, three counts of criminal breach of trust and one count of abuse of power.

He was sentenced to 12 years in prison for abuse of power and ten years in jail for each of six counts of money laundering and breach of trust. The sentences are to run concurrently. He was also handed a fine of 210 million ringgits (nearly $50 million) over his involvement in the 1MDB scandal, which saw the transfer of millions of dollars from the fund to his private accounts.

“Case proven beyond reasonable doubt” – judge

“After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a reasonable doubt,” judge Mohamad Nazlan Mohamad Ghazali told the Kuala Lumpur High Court.

Najib, who pleaded not guilty to the charges, said that he was being misled by financial advisers, in particular fugitive financier Jho Low, who, in turn, insists on his innocence.

The disgraced ex-premier is expected to remain out of prison until appeals are exhausted. However, he still faces dozens of other charges in additional trials also related to the 1MDB scandal.

The cases against him are seen as a test of Malaysia’s anti-corruption efforts.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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