Former Prime Minister Of Malaysia, Najib Razak, Found Guilty In The Case Of Embezzlement Of $9.8 Million From The State Development Fund
Former Prime Minister of Malaysia found guilty in the case of embezzlement of $9.8 million from the state development Fund.
Former Prime Minister of Malaysia Najib Razak was found guilty by a court in the case of multi-million-dollar embezzlement from the state investment development Fund 1MDB, as well as corruption crimes, AR reports.
The former Prime Minister was found guilty of all seven charges: abuse of power, three counts of abuse of trust, and three counts of laundering. The trial on these charges began in April 2019.
The investigation began when 42 million Malaysian ringgit ($9.8 million) belonging to SRC International, a structure of the 1MDB fund, was found in Razak's accounts. The investigation alleged that Najib took advantage of the position of Prime Minister and received a bribe for providing government guarantees for billions of dollars of loans issued by the SRC.
The court was provided with information that this money was in accounts from which Najib Razak paid for repairs to his own home, bought a watch from Chanel as a gift to his wife, and from which payments were made to political parties.
Judge of the Kuala Lumpur High court Mohamad Nazlan Mohamad Ghazali said that after examining all the arguments and evidence, he concluded that the prosecution had sufficiently substantiated the defendant's guilt.
Razak does not admit guilt, claims that in the situation with financial violations, he was misled by advisers. On Monday, he wrote on Facebook that he would appeal if the verdict is guilty.
BBC News calls the trial of the former Prime Minister a test of Malaysia's readiness to fight corruption.
Najib Razak led the government of Malaysia from 2009 to 2018. State development investment Fund 1 Malaysia Development Berhad (1MDB) was established in 2009. In 2015, questions arose about the Fund's work after it began delaying payments to banks and bondholders. According to Malaysian and American investigators, about $ 4.5 billion was stolen and misappropriated from the Fund.
AR notes that this is only the first trial of the former Prime Minister. In total, he faces five trials and 42 counts of charges.