Malaysia’s ex-PM Najib faces 125 years jail time if found guilty on all 1MDB charges

Malaysia’s ex-PM Najib faces 125 years jail time if found guilty on all 1MDB chargesFormer Malaysian prime minister Najib Razak could be jailed up to 125 years and fined a total of 210 million ringgit ($51.6 million) if found guilty of corruption, money laundering and other cases in relation to the scandal involving state investment fund 1Malaysia Development Fund (1MDB).

Four charges have been brought against him in July, namely three counts of criminal breach of trust and one count of abuse of power – each carry a maximum 20-year jail sentence. On August 8, Najib was confronted with three more charges of money laundering, each with a 15-year maximum sentence.

All the charges are linked to SRC International, a former subsidiary of the 1MDB state fund founded by Najib who stands accused of receiving proceeds totaling 42 million ringgit ($10 million) “from unlawful activities” on three occasions on his private AmBank bank account, according to charge sheets.

Overall, some $4.5 billion are alleged to have been misappropriated from the 1MDB fund during Najib’s nine-year tenure as prime minister, and at least $1.7 billion have been used to buy luxury assets such as a $250-million super yacht, art paintings and exclusive real estate, according to findings by US prosecutors.

Najib has pleaded not guilty to all seven charges. He has previously accused Malaysia’s new government of seeking political vengeance after his stunning electoral defeat three months ago and vowed to clear his name in his trial which is planned to commence next year.

Najib, who is free on bail, and his wife, Rosmah Mansor, have been barred from leaving the country and their passports are being held.



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

 

 

Former Malaysian prime minister Najib Razak could be jailed up to 125 years and fined a total of 210 million ringgit ($51.6 million) if found guilty of corruption, money laundering and other cases in relation to the scandal involving state investment fund 1Malaysia Development Fund (1MDB). Four charges have been brought against him in July, namely three counts of criminal breach of trust and one count of abuse of power – each carry a maximum 20-year jail sentence. On August 8, Najib was confronted with three more charges of money laundering, each with a 15-year maximum sentence. All the charges...

Malaysia’s ex-PM Najib faces 125 years jail time if found guilty on all 1MDB chargesFormer Malaysian prime minister Najib Razak could be jailed up to 125 years and fined a total of 210 million ringgit ($51.6 million) if found guilty of corruption, money laundering and other cases in relation to the scandal involving state investment fund 1Malaysia Development Fund (1MDB).

Four charges have been brought against him in July, namely three counts of criminal breach of trust and one count of abuse of power – each carry a maximum 20-year jail sentence. On August 8, Najib was confronted with three more charges of money laundering, each with a 15-year maximum sentence.

All the charges are linked to SRC International, a former subsidiary of the 1MDB state fund founded by Najib who stands accused of receiving proceeds totaling 42 million ringgit ($10 million) “from unlawful activities” on three occasions on his private AmBank bank account, according to charge sheets.

Overall, some $4.5 billion are alleged to have been misappropriated from the 1MDB fund during Najib’s nine-year tenure as prime minister, and at least $1.7 billion have been used to buy luxury assets such as a $250-million super yacht, art paintings and exclusive real estate, according to findings by US prosecutors.

Najib has pleaded not guilty to all seven charges. He has previously accused Malaysia’s new government of seeking political vengeance after his stunning electoral defeat three months ago and vowed to clear his name in his trial which is planned to commence next year.

Najib, who is free on bail, and his wife, Rosmah Mansor, have been barred from leaving the country and their passports are being held.



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

 

 

NO COMMENTS

Leave a Reply