Connect with us

World

Malaysia: Najib Razak convicted of $ 4.5bn 1MDB embezzlement

Published

on

After 16 months on trial, a Malaysian court has found former Prime Minister Najib Razak guilty of abuse of office in connection with a multibillion-dollar scam involving alleged misappropriation of the 1Malaysia Development Berhand funds.

The judge also found Mr Najib guilty of several counts of corruption and money laundering, and could face up to ten years in prison.

The case is the first in a series of three cases against the former prime minister.

In his indictment, prosecutors allege he diverted millions of dollars to his savings account – the money he allegedly used to buy expensive goods and spend some of it for his party, when he was in power.

He has long denied any wrongdoing, and even before the trial, supporters of the United Malays National Organization (UMNO), which was defeated in May 2018 after the scandal, defended him against the allegations.

Investigators in the United States have discovered that $ 4.5 billion was stolen from 1MDB – a fund which was set up when Mr.Najib was the Prime Minister.

He was Also accused of setting up fake companies to buy and own expensive goods such as real estate, ships, private jets, Monet art works as well as investing in Hollywood blockbusters and the Wolf of Wall Street.

48 Reads
READ MORE  Uti Nwachukwu React to Rape Allegations
Continue Reading
Advertisement
Comments