Mega fraud in Malaysia: former prime minister convicted of corruption
Former Malaysian Prime Minister Najib Razak has been found guilty today of all seven allegations of first – instance corruption charges related to a multi-billion dollar scandal involving state fund 1Malaysia Development Berhad (1MDB).
“After considering all the evidence in this trial, I come to the conclusion that the prosecution has successfully proved his case,” said Mohamad Nazlan Mohamad Ghazali, Supreme Court judge in Kuala Lumpur.
The former prime minister can now be sentenced to decades in prison after being convicted of all charges in the case regarding the looting of state investment funds 1MDB.
Billions of dollars were stolen from the investment fund and spent on everything from real estate to expensive art, while investment bank Goldman Sachs also got involved in the scandal.
Rage looting played a significant role in the loss of Najib’s long-running coalition in the 2018 elections. After his defeat, he was arrested and faced with dozens of allegations.
The verdict was a test of Malaysia’s rule of law. It comes about five months after Najib’s party came back to power as part of a coalition. It was feared that this development could affect the outcome of the lawsuit.