PUTRAJAYA, December 27 (TNF): Former Malaysian prime minister Najib Razak was convicted on Friday on all charges of abuse of power and money laundering in the largest and most consequential trial linked to the multibillion-dollar 1Malaysia Development Berhad (1MDB) scandal.
According to our correspondent in Putrajaya, the High Court found Najib guilty on four counts of abuse of power and 21 counts of money laundering, delivering a sweeping verdict that deepens his legal troubles and carries major political implications for Malaysia.
High Court Judge Collin Lawrence Sequerah ruled that the evidence overwhelmingly established Najib’s guilt. He rejected claims that the case was politically motivated and dismissed the defence narrative as inconsistent with the facts.
“The contention that this was a witch hunt has been debunked by cold, hard, and incontrovertible evidence,” the judge said. He added that the proof showed Najib had abused his position and exercised extensive control over 1MDB while serving as prime minister.
Najib, 72, already remains behind bars. He has been imprisoned since August 2022 after Malaysia’s top court upheld his conviction in a separate corruption case involving SRC International, a former 1MDB subsidiary.
The court found that billions of dollars had been illegally transferred to accounts linked to Najib. Prosecutors argued that the funds were traced directly to 1MDB. The judge accepted this argument in full.
Najib’s defence claimed he had been deceived by fugitive financier Low Taek Jho, widely known as Jho Low. Lawyers said Najib believed the money came from donations by the Saudi royal family.
Judge Sequerah rejected that explanation outright. He described the alleged donation letters as unreliable and likely forged. He said no credible evidence supported the claim.
“The Arab donation narrative is not meritorious,” the judge said. He added that the story resembled a “tale that surpassed even those from the Arabian Nights.”
The court also rejected Najib’s argument that he was a victim of rogue subordinates. Instead, the judge said evidence showed a close and unmistakable bond between Najib and Jho Low. He ruled that Low acted as Najib’s proxy in managing and exploiting the fund.
Najib now faces severe penalties. Each charge carries a potential prison term of 15 to 20 years, along with fines that could reach five times the value of the misappropriated funds. Sentencing will take place at a later date.
The case centres on the creation and plunder of 1MDB. Najib co-founded the state fund in 2009 shortly after taking office. The fund was meant to promote national development and investment. Najib chaired its advisory board until 2016.
Investigators later uncovered massive fraud. Between 2009 and 2013, 1MDB raised billions through bond sales. Authorities say at least $4.5 billion was siphoned off through shell companies and offshore accounts.
The US Department of Justice called the affair its largest-ever kleptocracy investigation. Officials said stolen funds paid for luxury real estate, a private jet, a superyacht, jewellery, and the Hollywood film The Wolf of Wall Street.
Financial regulators across the world launched probes. These included authorities in the United States, Singapore, and Switzerland. In 2020, Goldman Sachs agreed to pay $3.9 billion to settle investigations over its role in underwriting 1MDB bonds.
Najib’s conviction adds to a long list of legal setbacks. In July 2020, he received a 12-year prison sentence for criminal breach of trust and money laundering involving about $10 million from SRC International. A pardons board reduced that sentence to six years in 2024.
He was acquitted in March 2023 in a separate case involving alleged tampering with a 1MDB audit report. In November 2024, a court granted him a discharge not amounting to an acquittal in another case tied to funds linked to Abu Dhabi’s International Petroleum Investment Company. Prosecutors retain the right to revive that case.
The latest ruling also carries political consequences. It puts fresh pressure on Prime Minister Anwar Ibrahim’s governing coalition. His alliance relies partly on United Malays National Organisation (UMNO), Najib’s party.
Tensions have already risen after a court recently rejected Najib’s bid to serve the remainder of his sentence under house arrest. UMNO leaders have faced criticism over their continued association with Najib.
As reported by our correspondent in Putrajaya, the verdict marks a defining moment in Malaysia’s fight against corruption. It closes one of the most significant chapters in the 1MDB saga while reinforcing the judiciary’s stance against abuse of power at the highest level.
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