Malaysia court upholds guilty verdict for former PM Najib in 1MDB-linked case By Reuters

© Reuters. FILE PHOTO: Malaysia’s former Prime Minister Najib Razak speaks during an interview with Reuters in Kuala Lumpur, Malaysia September 18, 2021. Picture taken September 18, 2021. REUTERS/Lim Huey Teng

By Rozanna Latiff

KUALA LUMPUR (Reuters) – A Malaysian appeals court on Wednesday upheld former premier Najib Razak’s guilty verdict in a case linked to a corruption scandal at state fund 1Malaysia Development Bhd (1MDB).

Najib was sentenced to 12 years in prison and fined $50 million last year by a high court after being found guilty of criminal breach of trust, abuse of power and money laundering for illegally receiving about $10 million from SRC International, a former unit of now-defunct 1MDB.

He had pleaded not guilty and consistently denied any wrongdoing.

Judge Abdul Karim Abdul Jalil said he agreed with the high court judge on the conviction and sentencing over all seven charges against Najib.

“We dismiss the appeal on all seven charges and affirm the conviction on all seven charges,” the judge said.

Najib has been free on bail pending the appeal.

His lawyer Shafee Abdullah told the court the former premier would appeal the verdict at the Federal Court, Malaysia’s top tribunal.

The judge allowed Najib’s request for a stay on the sentence and Najib will be released on bail.

Wearing a black suit, Najib showed no emotion as the judgment was read out and was seen taking notes occasionally during the hearing.

Najib and his lawyers joined the proceedings via Zoom after a member of his legal team tested positive for COVID-19.

The former prime minister remains influential within his party, the United Malays National Organisation (UMNO), which returned to power in August after being voted out three years earlier amid widespread corruption allegations.

Najib told Reuters in September he has not ruled out seeking re-election to parliament, a move that would require his conviction to be overturned.

U.S. and Malaysian authorities say $4.5 billion was believed to have been stolen from 1MDB, and that more than $1 billion made its way into Najib’s personal accounts.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*