The Prague Post - Malaysia's Najib convicted of abuse of power in 1MDB graft trial

EUR -
AED 4.378987
AFN 78.098245
ALL 96.557811
AMD 449.781217
ANG 2.13444
AOA 1093.404289
ARS 1674.054124
AUD 1.675402
AWG 2.149249
AZN 2.078663
BAM 1.96001
BBD 2.402771
BDT 145.933465
BGN 2.002433
BHD 0.449498
BIF 3535.809733
BMD 1.192371
BND 1.510351
BOB 8.243985
BRL 6.196635
BSD 1.192967
BTN 108.01063
BWP 15.650683
BYN 3.427276
BYR 23370.475696
BZD 2.399264
CAD 1.611996
CDF 2635.140329
CHF 0.912176
CLF 0.025839
CLP 1020.263904
CNY 8.240298
CNH 8.236215
COP 4372.973714
CRC 590.370589
CUC 1.192371
CUP 31.597837
CVE 110.506074
CZK 24.247643
DJF 212.437205
DKK 7.470923
DOP 74.770921
DZD 154.316398
EGP 55.846258
ERN 17.885568
ETB 185.190565
FJD 2.606345
FKP 0.872667
GBP 0.871868
GEL 3.207668
GGP 0.872667
GHS 13.128641
GIP 0.872667
GMD 87.643407
GNF 10472.53889
GTQ 9.148959
GYD 249.594501
HKD 9.318208
HNL 31.524847
HRK 7.536505
HTG 156.486789
HUF 377.65929
IDR 20002.027031
ILS 3.662702
IMP 0.872667
INR 107.972193
IQD 1562.763363
IRR 50228.637367
ISK 145.003974
JEP 0.872667
JMD 186.65171
JOD 0.845423
JPY 182.285535
KES 153.815695
KGS 104.272683
KHR 4808.348478
KMF 494.119775
KPW 1073.132975
KRW 1730.923534
KWD 0.365903
KYD 0.994152
KZT 586.940591
LAK 25620.139399
LBP 106743.791495
LKR 369.134447
LRD 222.495383
LSL 19.004401
LTL 3.520762
LVL 0.721253
LYD 7.521187
MAD 10.875926
MDL 20.190454
MGA 5281.366502
MKD 61.685932
MMK 2503.876525
MNT 4254.608132
MOP 9.606275
MRU 46.89509
MUR 54.467686
MVR 18.422699
MWK 2068.551916
MXN 20.466158
MYR 4.680651
MZN 76.194973
NAD 19.004641
NGN 1616.211591
NIO 43.904491
NOK 11.3022
NPR 172.811924
NZD 1.966636
OMR 0.458459
PAB 1.192973
PEN 4.005905
PGK 5.118015
PHP 69.54803
PKR 333.729148
PLN 4.21722
PYG 7851.898775
QAR 4.348587
RON 5.091542
RSD 117.329627
RUB 92.31239
RWF 1741.748573
SAR 4.472405
SBD 9.608304
SCR 16.819829
SDG 717.197083
SEK 10.5476
SGD 1.504922
SHP 0.894587
SLE 29.034073
SLL 25003.427193
SOS 681.767293
SRD 45.178714
STD 24679.676638
STN 24.552842
SVC 10.438466
SYP 13187.118688
SZL 18.985861
THB 37.057111
TJS 11.196225
TMT 4.185223
TND 3.436898
TOP 2.870943
TRY 52.034412
TTD 8.091516
TWD 37.484599
TZS 3079.482273
UAH 51.378476
UGX 4241.252474
USD 1.192371
UYU 45.749805
UZS 14697.632092
VES 458.813007
VND 30935.474832
VUV 142.328885
WST 3.227812
XAF 657.371789
XAG 0.014519
XAU 0.000236
XCD 3.222443
XCG 2.150054
XDR 0.81756
XOF 657.371789
XPF 119.331742
YER 284.17192
ZAR 18.939964
ZMK 10732.765918
ZMW 22.695846
ZWL 383.943043
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    0.5300

    17.41

    +3.04%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSD

    0.1100

    24.08

    +0.46%

  • RELX

    -0.1900

    29.29

    -0.65%

  • VOD

    -0.2300

    15.25

    -1.51%

  • CMSC

    0.1070

    23.692

    +0.45%

  • GSK

    -0.1900

    58.82

    -0.32%

  • RIO

    0.3900

    97.24

    +0.4%

  • NGG

    0.3700

    88.76

    +0.42%

  • BCC

    0.7100

    89.73

    +0.79%

  • AZN

    5.3900

    193.4

    +2.79%

  • BCE

    0.2100

    25.83

    +0.81%

  • JRI

    -0.0300

    12.78

    -0.23%

  • BTI

    -0.9600

    60.19

    -1.59%

  • BP

    -2.2500

    36.97

    -6.09%

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: Mohd RASFAN - 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.

Z.Pavlik--TPP