Najib handed 12 years in jail over 1MDB scandal
KUALA LUMPUR: Former Malaysian prime minister Najib Razak was sentenced to 12 years in jail yesterday after being found guilty in his first trial over the multi-billion-dollar 1MDB scandal. The Kuala Lumpur High Court also ordered him to pay a fine of 210 million ringgit ($49 million) after he was convicted of seven charges related to the looting of sovereign wealth fund 1Malaysia Development Berhad.
Najib was found guilty earlier yesterday of corruption over the 1MDB scandal that cost him his government. The ex-prime minister was convicted on all charges in his first trial related to the looting of sovereign wealth fund 1Malaysia Development Berhad. Billions of dollars were stolen from the investment vehicle and spent on everything from high-end real estate to pricey art, while investment bank Goldman Sachs also became embroiled in the scandal.
Anger at the looting played a large part in the shock loss of Najib’s long-ruling coalition in elections in 2018, and he was arrested and hit with dozens of charges following his defeat. The verdict was a test of Malaysia’s rule of law. It came about five months after Najib’s scandalplagued party returned to power as part of
a coalition, which observers had feared could affect the outcome.
Najib is facing several 1MDB-linked trials and the first, which began almost 16 months ago, centred on the transfer of 42 million ringgit ($9.9 million) from a former unit of the fund into his bank accounts. The 67-year-old had vehemently denied wrongdoing. But Judge Mohamad Nazlan Mohamad Ghazali took apart all the arguments put forward by his defense, and found him guilty on the seven charges he faced.
“In conclusion, after considering all the evidence in this trial, I find the prosecution has successfully proven the case,” the judge told the Kuala Lumpur High Court. Najib looked calm and bowed his head after the verdict was read. Outside court, hundreds of angry supporters chanted “Long life”.
The charges were one of abuse of power, three of criminal breach of trust and three of money-laundering. The counts of abuse of power and criminal breach of trust were punishable by up to 20 years in jail each, while the money-laundering charges were punishable by up to 15 years each. The 67-year-old will likely appeal and he may not be sent to jail immediately.
Najib had insisted he was ignorant of the transactions from the 1MDB unit, SRC International. The defense team portrayed Najib as a victim and instead sought to paint financier Low Taek Jho, a key figure in the scandal who has been charged in the US and Malaysia, as the mastermind. Low, whose whereabouts are unknown, maintains his innocence. The judge however ruled that the idea Low had tricked Najib was “far-fetched”, and also dismissed the argument the ex-leader believed the money in his account was a donation from Saudi royalty.