Ex-premier found guilty in landmark ruling on multi-billion-dollar scam while Goldman Sachs escapes criminal sanction for a fee
Former Malaysian Prime Minister Najib Razak was found guilty and sentenced to prison by a high court judge on Tuesday (July 28) in the first of several trials linked to multi-billion-dollar corruption allegations at the 1Malaysia Development Berhad (1MDB) state fund. The verdict makes the 67-year-old the first and only ex-national leader ever to be criminally convicted.
In a long-sought day of reckoning, the scandal-plagued former premier was ruled guilty on all seven charges that include money laundering, criminal breach of trust and abuse of power in connection with the misappropriation of 42 million ringgit (US$9.8 million) from 1MDB unit SRC International Sdn Bhd, which was funneled into his personal bank accounts.
“After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a reasonable doubt,” Kuala Lumpur High Court Judge Mohamad Nazlan Mohamad Ghazali said. Najib’s defense lawyers contended that he was a victim of a scam and are applying for a stay of execution pending the hearing of his appeal.
The former prime minister was sentenced to 12 years in jail and handed a fine of 210 million ringgit ($49.3 million). If Najib fails to pay the fine, he will serve an additional five years in prison by default. “The sentence is not only to punish offenders but to deter other people from repeating the offense,” said the high court judge.
Former Malaysian Prime Minister Najib Razak was found guilty and sentenced to prison by a high court judge on Tuesday (July 28) in the first of several trials linked to multi-billion-dollar corruption allegations at the 1Malaysia Development Berhad (1MDB) state fund. The verdict makes the 67-year-old the first and only ex-national leader ever to be criminally convicted.
In a long-sought day of reckoning, the scandal-plagued former premier was ruled guilty on all seven charges that include money laundering, criminal breach of trust and abuse of power in connection with the misappropriation of 42 million ringgit (US$9.8 million) from 1MDB unit SRC International Sdn Bhd, which was funneled into his personal bank accounts.
“After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a reasonable doubt,” Kuala Lumpur High Court Judge Mohamad Nazlan Mohamad Ghazali said. Najib’s defense lawyers contended that he was a victim of a scam and are applying for a stay of execution pending the hearing of his appeal.
The former prime minister was sentenced to 12 years in jail and handed a fine of 210 million ringgit ($49.3 million). If Najib fails to pay the fine, he will serve an additional five years in prison by default. “The sentence is not only to punish offenders but to deter other people from repeating the offense,” said the high court judge.
Read the full story at Asia Times.
Nile Bowie is a journalist and correspondent with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.
