July 28, 2020: Former prime minister of Malaysia, Najib Razak has been held guilty in a multi-billion dollar 1MDB corruption case. He now faces several decades in jail.
"I find that the prosecution has successfully proven its case beyond a reasonable doubt. I therefore find accused guilty and convict the accused on all seven charges," the judge in his order said.
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ajib has been pleading his innocence in the case.
Najib now faces imprisonment of up to 15 or 20 years for each of the 7 charges, as well as hefty fines. The quantum of punishment will be announced later.
After assuming office in 2009, Najib set up 1MDB to ostensibly accelerate Malaysia’s economic development. But the fund accumulated billions in debt, and US investigators allege that at least $4.5 billion was stolen from it and laundered by Najib’s associates to finance Hollywood films and buy hotels, a luxury yacht, artwork, jewelry and other extravagances. More than $700 million from the fund allegedly landed in Najib’s bank accounts.
His wife and several officials from his party and previous government have also been charged with graft.
STORY HIGHLIGHTS
July 28, 2020: Former prime minister of Malaysia, Najib Razak has been held guilty in a multi-billion dollar 1MDB corruption case. He now faces several decades in jail.
July 28, 2020: Former prime minister of Malaysia, Najib Razak has been held guilty in a multi-billion dollar 1MDB corruption case. He now faces several decades in jail.
"I find that the prosecution has successfully proven its case beyond a reasonable doubt. I therefore find accused guilty and convict the accused on all seven charges," the judge in his order said.
N
ajib has been pleading his innocence in the case.
Najib now faces imprisonment of up to 15 or 20 years for each of the 7 charges, as well as hefty fines. The quantum of punishment will be announced later.
After assuming office in 2009, Najib set up 1MDB to ostensibly accelerate Malaysia’s economic development. But the fund accumulated billions in debt, and US investigators allege that at least $4.5 billion was stolen from it and laundered by Najib’s associates to finance Hollywood films and buy hotels, a luxury yacht, artwork, jewelry and other extravagances. More than $700 million from the fund allegedly landed in Najib’s bank accounts.
His wife and several officials from his party and previous government have also been charged with graft.