Former Malaysian PM Najib Razak found guilty of abuse of power in latest 1MDB trial | Najib Razak
Jailed former Malaysian prime minister Najib Razak has been found guilty of abuse of power in the biggest trial to date in the multibillion-dollar fraud scandal involving state fund 1MDB.
Najib had been indicted on four counts of corruption and 21 counts of money laundering for receiving illegal transfers from 1MDB worth approximately 2.2 billion ringgit ($544.15 million). He has consistently denied wrongdoing.
Malaysian and U.S. investigators say at least $4.5 billion was stolen from 1Malaysia Development Berhad (1MDB), a state fund Najib founded in 2009 while in office. More than $1 billion was allegedly transferred to accounts linked to Najib, who has denied wrongdoing.
Najib, 72, has been in prison since August 2022, when Malaysia’s high court upheld his corruption conviction for illegally receiving money from the 1MDB unit. The 12-year prison sentence in this case was halved by the pardon board last year.
Najib has repeatedly said he was misled by 1MDB officials and fugitive financier Jho Low, who is charged in the US for his central role in the case. Low, whose whereabouts are unknown, has denied any wrongdoing.
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