Malaysia's ex‑PM Najib Razak convicted in landmark 1MDB corruption trial #rwanda #RwOT

webrwanda
0

Najib, 72, was convicted on four counts of abusing his position and 21 counts of money laundering in what has been described as the largest and most significant trial connected to the 1MDB scandal. The allegations stem from the alleged misappropriation of billions of dollars from the state‑owned fund that Najib co‑founded in 2009.

The judge in the case, Collin Lawrence Sequerah, rejected Najib's defence that the funds were legitimate Saudi Arabian donations, calling that claim 'implausible' and pointing to evidence of an 'unmistakable bond' with fugitive financier Jho Low, who Malaysian and U.S. authorities say acted as an intermediary in siphoning money from the fund.

Under Malaysian law, Najib could face maximum sentences of 15â€"20 years in prison on each count, as well as hefty fines. A separate ruling on the exact sentence was pending at the time of publication.

The 1MDB scandal, one of the largest global corruption cases in recent history involved the diversion of at least $4.5 billion from the development fund into offshore accounts and luxury purchases, drawing investigations in multiple countries. Najib has consistently denied wrongdoing, maintaining that he was misled by officials and that some funds were donations, claims dismissed by the court.

Najib has already been serving a reduced 12‑year prison sentence from a previous 1MDB‑related conviction, after an earlier sentence was halved by the pardons board. His most recent attempt to serve the remainder of that sentence under house arrest was rejected by the Malaysian court earlier this week.

The verdict is likely to put additional strain on Malaysia's political landscape. Najib's party, the United Malays National Organisation (UMNO), remains a key member of the ruling coalition led by Prime Minister Anwar Ibrahim, and Najib's continued influence has complicated efforts to present a unified governing agenda.

Internationally, the 1MDB case has ensnared several global financial institutions and led to hefty fines and ongoing legal actions across jurisdictions including the United States, Singapore, and Switzerland. Investigators have recovered significant sums, but key figures such as Jho Low remain at large.

A Malaysian high court on Friday found former prime minister Najib Razak guilty on all charges of abuse of power and money laundering related to the massive 1Malaysia Development Berhad (1MDB) scandal.

Rania Umutoni



Source : https://en.igihe.com/news/article/malaysia-s-ex-pm-najib-razak-convicted-in-landmark-1mdb-corruption-trial

Post a Comment

0Comments

Post a Comment (0)