Former Malaysian PM Najib Razak sentenced to 15 years, hefty fine in 1MDB case
NN ONLINE:
Former Malaysian Prime Minister Najib Razak was sentenced Friday to 15 years in prison and ordered to pay 13.5 billion ringgit ($3.3 billion) in fines and asset recovery after being found guilty in his largest corruption trial linked to the 1MDB state investment fund.
The High Court convicted the 72-year-old Najib on four counts of abuse of power and 21 charges of money laundering involving over $700 million channeled into his personal accounts from 1MDB. Justice Collin Lawrence Sequerah ruled that the sentences would run concurrently, meaning Najib will face another 15 years after completing his current term for an earlier 1MDB conviction.
Najib’s lawyer, Mohamed Shafee Abdullah, said the court “made so many blunders” and indicated plans to appeal. Najib, dressed in a blue suit, remained calm as the verdict was read.
Najib has consistently denied wrongdoing, claiming the funds were a political donation from Saudi Arabia and that he was misled by financiers led by Low Taek Jho, who remains at large. The judge dismissed these claims, stating the evidence proved the money originated from 1MDB and letters from Saudi donors were forged.
The ruling highlighted Najib’s failure to verify the funds’ origins or act against Low, and noted he used the money while taking steps to protect his position, including removing investigators. Though most of the funds were returned to offshore accounts, the judge said this was a deliberate effort to conceal their illicit origin.
Najib, prime minister from 2009 to 2018, is already serving a prison term for an earlier 1MDB-linked case involving $10.3 million from SRC International. He became Malaysia’s first former leader to be imprisoned after losing a final appeal in 2022.
The 1MDB scandal, which saw over $4.5 billion looted through multiple countries, financed luxury purchases and Hollywood films, and triggered global investigations, including in the United States. Goldman Sachs faced billions in fines for its role in raising funds for 1MDB.
Najib’s wife, Rosmah Mansor, was sentenced to 10 years in prison and fined in a separate graft case in 2022 but is currently out on bail pending appeal. Najib’s failed bid earlier this week to serve his sentence under house arrest was also rejected by the High Court.