Malaysia’s ex-pm gets 12 years in jail in corruption case
KUALALUMPUR: Former Malaysian leader Najib Razak was sentenced on Tuesday to 12 years in jail on corruption charges linked to the multi-billion-dollar 1MDB scandal that led to the downfall of his government two years ago.
The ex-prime minister was also fined almost $50 million after being convicted on all seven charges in the first of several trials related to the looting of the 1Malaysia Development Berhad sovereign wealth fund.
The 67-year-old is challenging the verdict and will be allowed to remain free on continued bail until a lengthy appeals process is complete.
Billions of dollars were stolen from Malaysia’s main state investment vehicle and spent on everything from high-end real estate to pricey art. Investment bank Goldman Sachs also became embroiled in the scandal and faces a series of hefty fines in the US and Malaysia.
Anger at the looting played a large part in the shock loss of Razak’s long-ruling coalition at elections in 2018, and he was arrested and hit with dozens of charges following his defeat. The verdict was welcomed as a boost for Malaysia’s rule of law and came despite Razak’s political allies returning to power.
Razak was found guilty regarding the transfer of 42mn ringgit ($9.9mn) from an 1MDB unit to his bank accounts.