Malaysia’s Najib pleads guilty to 1MDB-linked corruption News of corruption


During the appeal, the defense counsel argued that Najib Razak had no knowledge of the transaction in his account.

A Malaysian court has begun hearing a bid to convict former Prime Minister Najib Razak on corruption charges, in a case involving the looting of 1 MDB state investment funds.

The plea came more than eight months after Najib was found guilty of abuse of power, breach of trust and money laundering by the high court for illegally receiving about 10 10 million from a 1MBD former unit known as SRC International.

The former prime minister – who co-founded the 1MDB fund – was sentenced to 12 years in prison and fined 50 million.

He denied all wrongdoing and his sentence was suspended for appeal.

This conviction proved Najib to be the first Malaysian leader to be convicted of corruption and was the first part of a various fraud trial against the former prime minister.

The 1MDB scandal sparked investigations in the United States and several other countries, with prosecutors alleging that more than ৫ 4.5 billion had been stolen from state funds and laundered by Najib’s associates. According to prosecutors, the former prime minister received more than 1 1 billion in MDB funds and is facing a total of 42 criminal charges in the scandal.

Najib, 67, arrived at the appellate court on Monday morning but did not speak to reporters.

“The hearing is being violated at all – there is no hearing,” defense lawyer Muhammad Shafi Abdullah told the court. “We have a mess, so we have to deal with it.”

During the appeal, which runs until April 22, defendants’ lawyers will argue that the judge erred in presenting evidence showing that Najib believed by Malaysian financier Zhou Lo and another 1MDB official that the funds in his account were funded by the Saudi royal family.

Lower, whose search is unknown, denies the wrongdoing.

“(Najib) had no knowledge of the 42 million ringgit transaction in his account or that it was from the SRC’s account,” said a document submitted to the court before the hearing.

If he loses the appeal, Najib still has a final chance to challenge the sentence in Malaysia’s top court.

Anger played a major role in looting 1MDB in the wake of the unexpected loss of Najib’s longtime ruling coalition in the 2013 elections, but his scandalous party has returned to power after the fall of the reformist administration led by former Prime Minister Mahathir Mohamad. .

The amount involved in Najib’s first case is much lower than in his second and most significant trial, which he alleges he illegally gained more than 500m.

His wife and his party and several officials of the previous government have also been charged with fraud in the 1MDB corruption case.

In recent months, Malaysia has recovered more than 3 3 billion from US bank Goldman Sachs, audit firm Deloitte and Malaysian banking group Mbank in separate agreements to settle claims related to the 1MDB investigation.





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