Former Malaysia leader Najib Razak found guilty of 1MDB graft

Court sentences Razak to 12 years in jail over multibillion-dollar scandal that led to downfall of the governmentMalaysia's former prime minister Najib Razak prepares to leave the court after he was found guilty in his corruption trial in Kuala Lumpur, July 28 2020. Picture: FAZRY ISMAIL / AFP

Billions of dollars were stolen from Malaysia’s main state investment vehicle and spent on everything from high-end real estate to pricey art. Investment bank Goldman Sachs became embroiled in the scandal and faces a series of hefty fines in the US and Malaysia as a result. Judge Mohamad Nazlan Mohamad Ghazali at Kuala Lumpur’s high court found Najib guilty on seven charges regarding the transfer of 42-million ringgit from a former 1MDB unit to his bank accounts.

But prosecutor V Sithambaram called for a heavy punishment, saying Najib was guilty of a “gross betrayal” of trust. “This case has tarnished the country as a kleptocracy, and the people of Malaysia don’t deserve that,” he said.The former leader had insisted he was ignorant of the transactions from the 1MDB unit, SRC International.

Riza allegedly also received huge sums from 1MDB, including to bankroll his Hollywood production company, which madeAnalysts said the conviction would boost confidence in the new government headed by Prime Minister Muhyiddin Yassin, whose legitimacy has been questioned since he took power without an election.

“The judicial process would not have happened if the people had not risen up to hand the ‘Pact of Hope’ victory” at the polls, the alliance said in statement.

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