The China Mail - Malaysia's Najib convicted of abuse of power in 1MDB graft trial

USD -
AED 3.672501
AFN 65.531123
ALL 80.999962
AMD 376.846763
ANG 1.79008
AOA 916.999974
ARS 1404.005901
AUD 1.413637
AWG 1.8025
AZN 1.703533
BAM 1.64226
BBD 2.013225
BDT 122.275216
BGN 1.67937
BHD 0.377059
BIF 2962.558673
BMD 1
BND 1.265482
BOB 6.907178
BRL 5.195996
BSD 0.999559
BTN 90.496883
BWP 13.113061
BYN 2.871549
BYR 19600
BZD 2.010286
CAD 1.35567
CDF 2210.000224
CHF 0.768099
CLF 0.021671
CLP 855.679953
CNY 6.91085
CNH 6.913725
COP 3667.24
CRC 494.655437
CUC 1
CUP 26.5
CVE 92.586917
CZK 20.39485
DJF 177.720182
DKK 6.28192
DOP 62.648518
DZD 129.420666
EGP 46.797803
ERN 15
ETB 155.350069
EUR 0.84082
FJD 2.191603
FKP 0.731721
GBP 0.733095
GEL 2.689711
GGP 0.731721
GHS 10.999761
GIP 0.731721
GMD 73.498647
GNF 8774.581423
GTQ 7.665406
GYD 209.121405
HKD 7.81805
HNL 26.497632
HRK 6.332802
HTG 131.114918
HUF 317.915974
IDR 16777
ILS 3.08274
IMP 0.731721
INR 90.56735
IQD 1310.5
IRR 42125.000158
ISK 121.909919
JEP 0.731721
JMD 156.391041
JOD 0.709038
JPY 154.345039
KES 128.840329
KGS 87.449559
KHR 4030.000058
KMF 414.389175
KPW 900.003053
KRW 1457.130202
KWD 0.30697
KYD 0.832959
KZT 491.773271
LAK 21474.99963
LBP 89702.217085
LKR 309.286401
LRD 186.624975
LSL 15.960149
LTL 2.95274
LVL 0.60489
LYD 6.298512
MAD 9.116974
MDL 16.91696
MGA 4435.999876
MKD 51.795206
MMK 2100.147418
MNT 3570.525201
MOP 8.048802
MRU 39.885566
MUR 45.679669
MVR 15.449733
MWK 1736.000289
MXN 17.200801
MYR 3.922502
MZN 63.899323
NAD 15.960346
NGN 1353.529704
NIO 36.719638
NOK 9.520396
NPR 144.79562
NZD 1.654855
OMR 0.384499
PAB 0.999551
PEN 3.3575
PGK 4.285004
PHP 58.495017
PKR 279.74993
PLN 3.54816
PYG 6578.947368
QAR 3.64125
RON 4.281302
RSD 98.699311
RUB 77.424712
RWF 1454
SAR 3.750872
SBD 8.058149
SCR 13.754362
SDG 601.493309
SEK 8.891498
SGD 1.265095
SHP 0.750259
SLE 24.349696
SLL 20969.499267
SOS 571.496532
SRD 37.890135
STD 20697.981008
STN 20.9
SVC 8.746069
SYP 11059.574895
SZL 15.960239
THB 31.257499
TJS 9.380697
TMT 3.51
TND 2.846059
TOP 2.40776
TRY 43.627007
TTD 6.779547
TWD 31.508009
TZS 2575.000223
UAH 43.048987
UGX 3553.510477
UYU 38.331227
UZS 12305.00001
VES 384.79041
VND 25885
VUV 119.800563
WST 2.713692
XAF 550.798542
XAG 0.012354
XAU 0.000199
XCD 2.70255
XCG 1.801442
XDR 0.685017
XOF 550.52774
XPF 100.675
YER 238.325029
ZAR 15.96209
ZMK 9001.207273
ZMW 19.016311
ZWL 321.999592
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    0.5300

    17.41

    +3.04%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSC

    0.1070

    23.692

    +0.45%

  • GSK

    -0.1900

    58.82

    -0.32%

  • RELX

    -0.1900

    29.29

    -0.65%

  • VOD

    -0.2300

    15.25

    -1.51%

  • RIO

    0.3900

    97.24

    +0.4%

  • BTI

    -0.9600

    60.19

    -1.59%

  • NGG

    0.3700

    88.76

    +0.42%

  • BP

    -2.2500

    36.97

    -6.09%

  • BCE

    0.2100

    25.83

    +0.81%

  • AZN

    5.3900

    193.4

    +2.79%

  • BCC

    0.7100

    89.73

    +0.79%

  • CMSD

    0.1100

    24.08

    +0.46%

  • JRI

    -0.0300

    12.78

    -0.23%

Malaysia's Najib convicted of abuse of power in 1MDB graft trial
Malaysia's Najib convicted of abuse of power in 1MDB graft trial / Photo: © AFP/File

Malaysia's Najib convicted of abuse of power in 1MDB graft trial

Former Malaysian prime minister Najib Razak was found guilty on Friday of abusing his power in the 1MDB graft scandal, which saw billions plundered from the now-defunct sovereign wealth fund.

Text size:

His conviction is likely to heap years onto the six-year term he is already serving for a separate case related to the 1MDB fund.

Presiding Judge Collin Lawrence Sequerah convicted the 72-year-old former leader on Friday on all four counts of abuse of power. Najib will also face a verdict on 21 counts of money laundering linked to the fund, which sparked probes in several countries, from Singapore to the United States.

While Najib, the son of one of the country's founding fathers, was groomed for leadership from a young age, he experienced a spectacular fall from power as public anger mounted over the corruption scandal.

Since Najib's 2018 election loss, investigations under successive governments have ensnared him and wife Rosmah Mansor in graft allegations.

Prosecutors say Najib abused his positions as prime minister, finance minister and 1MDB advisory board chairman to move large amounts of money from the fund into his personal accounts more than a decade ago.

According to investigators, proceeds from the state fund were used to bankroll high-end real estate, a luxury yacht and precious artworks.

Friday's hearing opened around 9:00 am (0100 GMT) before the Kuala Lumpur High Court in the country's administrative capital of Putrajaya.

Presiding Judge Sequerah started reading a lengthy verdict, before breaking for Friday afternoon prayers, with the hearing resuming at 3:00 pm.

- 'Unmeritorious' -

During the morning reading, Judge Sequerah dismissed several of the defence lawyers' arguments, including that Najib was duped by his close associate, the shadowy businessman Low Taek Jho, better known as Jho Low.

"The evidence clearly points to the fact that this was no coincidence but was evident of a relationship in which Jho Low operated as a proxy or agent of the accused (Najib) with regard to the running of the affairs of 1MDB," Sequerah said.

The defence's argument that Najib was "misled and duped by management and by Jho Low is unmeritorious", the judge said.

Low, who is currently on the run, is seen as the mastermind behind the scheme to plunder the country's investment vehicle.

Sequerah also dismissed arguments that the money flowing into Najib's accounts was "donations" from Middle East funders, calling it a "tale that surpassed even those from the Arabian Nights".

The prosecution presented bank records, testimony from over 50 witnesses and documentary evidence.

Najib "paints himself as a victim of rogue subordinates, when in truth, he was the single most powerful decision-maker", deputy public prosecutor Ahmad Akram Gharib told the court during closing arguments.

"The accused wielded absolute financial, executive and political control," he said.

- 'No fair trial' -

Najib's lawyers have previously said the politician was unaware that 1MDB's management was working hand in glove with Low to siphon large amounts of money from the fund, ostensibly established to foster economic growth in Malaysia.

Najib's lawyer, Muhammad Shafee Abdullah, last week told journalists his client "never got a fair trial".

He again blamed Low for the scandal, which dented Malaysia's image abroad.

Najib has apologised for allowing the 1MDB scandal to happen during his tenure, but he maintains he knew nothing about illegal transfers from the fund.

His legal battle was dealt a blow on Monday after he lost a bid to serve the remainder of his current jail term at home rather than the Kajang Prison outside Kuala Lumpur.

Each count of abuse of power is punishable by up to 20 years in jail and a fine of up to five times the amount of the bribe.

A.Kwok--ThChM