Former Malaysian PM Najib Razak, who has been found guilty on 7 charges in his first corruption trial linked to a multi-billion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB), has filed an appeal against his conviction and sentence.
On Tuesday, Najib, 67, was sentenced to 12 years in prison and was slapped with a fine of 210 million ringgit ($49 million), with an additional five years if the fine is not paid for the power abuse charge. He also received 10 years imprisonment on each of three charges of criminal breach of trust and three counts of money laundering for illegally receiving nearly $10 million from SRC International, a former unit of the state fund.
However, prosecutors claim that the $10 million is only a fraction of the funds Najib allegedly embezzled and that the total amount that made way into his personal accounts is close to $1 billion, which was used to buy exclusive art, expensive jewelry for his wife, and to fund Hollywood movies like ‘Wolf of Wall Street’. The fund was originally instituted by Najib to promote economic development in the country, and Najib now faces a total of 42 charges in five separate trials. The court has ordered all the jail time to run concurrently, meaning that Najib would only have to serve a maximum of 12 years, rather than the 72 years the charges currently add up to.
The former PM’s defense lawyers have said that he was cheated by Malaysian financier Jho Low and other 1MDB officials, who told him that the funds in his accounts were donated by the Saudi Royal Family. Low has consistently denied any wrongdoing and is currently at an undisclosed location. Malaysian officials have said that Low is hiding in Macau and that Chinese officials have appeared “insincere” in their efforts to cooperate. However, Beijing has rejected the accusations as “groundless and unacceptable”, saying that police had investigated all possible leads but were unable to trace Low. Najib is currently out on an RM2 million bail in two sureties.
Experts have argued that Najib’s conviction would signal to the business community that Malaysia’s legal system has the strength to tackle international financial crimes. Prosecutors earlier said the case had tarnished the country as a kleptocracy and would seek a sentence that would remind those in high public office that “no one is above the law”. However, others have cautioned the ruling could be overturned as his political party continues to remain in office.
Ex-Malaysian PM Appeals Against Conviction on Corruption Charges and Prison Sentence
Najib has been sentenced to 12 years in prison and fined $49 million.
July 31, 2020
Former Malaysian PM Najib Razak. SOURCE: ASSOCIATED PRESS NEWS