Former Malaysian Prime Minister Najib Razak was found guilty on Friday of abusing his power to siphon billions from the 1Malaysia Development Berhad (1MDB) sovereign wealth fund and laundering the proceeds.
Presiding judge Justice Collin Lawrence Sequerah convicted the 72-year-old on all four counts of abuse of power and 21 counts of money laundering, involving about 2.28 billion ringgit ($554 million). Sentencing, expected later on Friday, could add significantly to the six-year prison term Najib is already serving in a separate 1MDB-related case.
Najib appeared subdued in court as the verdict was read. Once groomed for leadership as the son of a founding father, his political career collapsed after public outrage over the 1MDB scandal led to his 2018 election defeat.
The court rejected defence claims that Najib was duped by fugitive financier Low Taek Jho (Jho Low), ruling that evidence showed Low acted as Najib’s proxy in managing 1MDB affairs. Justice Sequerah described claims that Middle Eastern donors were responsible for the funds in Najib’s accounts as a “tale that surpassed even those from the Arabian Nights.”
Prosecutors said Najib exploited his roles as prime minister, finance minister, and 1MDB advisory board chairman to channel funds into personal accounts, financing luxury properties, a yacht and artworks. The prosecution relied on bank records, extensive documentation and testimony from more than 50 witnesses.
Launched in 2009, 1MDB is estimated to have lost over $4.5 billion between 2009 and 2015. Jho Low, believed to have played a central role, remains at large.
Each abuse-of-power count carries a potential sentence of up to 20 years in prison and fines of up to five times the amount involved. Najib has denied wrongdoing, insisting he was unaware of illegal transfers, though he has apologised for the scandal occurring during his tenure.
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