Former Malaysian Prime Minister Najib will take part in 1MDB case

(UPDATE) KUALA LUMPUR – Jailed former prime minister Najib Razak must defend himself against charges of abuse of power and money laundering linked to scandal-plagued 1Malaysia Development Berhad (1MDB) sovereign wealth fund, a court in Malaysia ruled on Wednesday.

Chief judge Collin Lawrence Sequerah said the prosecution had successfully established that Najib had a case on bribes worth 2.27 billion ringgit ($517 million) and four abuse of power charges linked to 21 money laundering allegations.

“After maximum consideration of the evidence, I find that the prosecution has proven the substance of the charges,” Sequerah told the court. he said.

Najib appeared in court in a dark blue suit on Wednesday, six years after he was first charged, and appeared calm after hearing the verdict.

The 71-year-old man said that he would take part in the defense at the hearing, which is planned to start on December 2.

Najib’s lead lawyer, Muhammad Shafee Abdullah, said his client was “extremely disappointed” by the court’s decision because the defense had presented arguments they felt needed serious consideration.

ANOTHER TRY Malaysia’s former prime minister Najib Razak (center) is escorted by prison officers as he arrives at the Kuala Lumpur High Court complex in the capital Kuala Lumpur on October 30, 2024. AP PHOTO

“If you ask me how we feel, we are extremely disappointed,” he told reporters outside the court complex. “But we are not giving up. We will fight this case and we are more determined because of today’s decision.”

Each offense of abuse of power is punishable by up to 20 years in prison and a fine of up to five times the amount of the bribe.

Each money laundering offense may be subject to a maximum fine of 5 million ringgit and imprisonment of up to five years, or both.

The hearing took place just days after Najib apologized that the 1MDB scandal occurred during his tenure, but maintained he had no knowledge of illegal transfers from the now-defunct state fund.

“It pains me every day to know that the 1MDB fiasco happened on my watch as finance minister and prime minister,” Najib said in a statement read by his son Mohamad Nizar last Thursday. he wrote.

“I want to unreservedly apologize to the Malaysian people for this,” he added.

Allegations that billions of dollars were stolen from investment vehicle 1MDB and used to buy everything from superyachts to works of art played a key role in voters ousting Najib and his long-ruling United Malays National Organization party in the 2018 election.

The 1MDB scandal sparked investigations in the US, Switzerland and Singapore, where their financial systems are believed to have been used to launder money.

The current case is one of five filed against Najib in 2018 and involves Tanore Finance Corp., which U.S. authorities say was used to siphon money from 1MDB.

Najib begins serving a 12-year prison sentence in August 2022 for offenses linked to the misuse of public money by former 1MDB unit SRC International. The sentence was later halved by Malaysia’s pardon board.

The 1MDB audit falsification case ended in acquittal in the Supreme Court in 2023.

Najib, the UK-educated son of one of Malaysia’s founding fathers, still has a breach of trust case involving 6.6 billion ringgit and a money laundering case involving 27 million ringgit.

The U.S. Department of Justice said more than $4.5 billion was stolen from 1MDB between 2009 and 2015 by senior officials at the fund and their associates.