Setback To Malaysia's Jailed Ex-PM Najib Razak In 1MDB Scam, Found Guilty Of Abuse Of Power

(MENAFN- Live Mint) Jailed former Malaysian Prime Minister Najib Razak was found guilty of abuse of power on Friday in the biggest trial yet in the multibillion-dollar fraud scandal at state fund 1MDB.

Najib had been charged with four counts of corruption and 21 counts of money laundering for receiving illegal transfers of about 2.2 billion ringgit ($544.15 million) from 1MDB. He had consistently denied wrongdoing, reported Reuters.

On Friday afternoon a judge found him guilty in four charges of abuse of power and 21 charges of money laundering. His sentence is still pending.

The former PM was already in jail after he was convicted years ago in another case related to 1MDB.

What happened in 1MDB scandal?

The 1MDB scandal made headlines across the world when it came to light a decade ago, embroiling prominent figures from Malaysia to Goldman Sachs and Hollywood.

Investigators estimated that $4.5bn was siphoned from the state-owned wealth fund into private pockets, including Najib's.

Second blow for Najib Razak

Friday's verdict against Najib Razak comes after seven years of legal proceedings, which saw 76 witnesses called to the stand, reported BBC.

Delivered in Malaysia's administrative capital, Putrajaya, the ruling marked the second setback this week for the former Malaysia PM – who has been behind bars since 2022. Earlier on Monday, the court had dismissed his plea to serve the remainder of his sentence under house arrest.

Despite the convictions, Najib continues to command a loyal support base. His backers insist he has been treated unfairly and have repeatedly turned up at court hearings demanding his release.

(This is a developing story. Keep checking for more updates)

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