FORMER prime minister Najib Razak is set to learn his fate today as a court delivers a verdict in the first of several trials he faces over a multi-billion ringgit graft scandal at 1MDB, a state fund he founded.
Najib, who was voted out in a historic 2018 election, faces dozens of criminal charges over allegations that US$4.5 bil (RM19 bil) was stolen from 1Malaysia Development Bhd (1MDB).
Prosecutors allege more than US$1 bil of the funds made its way into his personal accounts.
A Malaysian high court will deliver a verdict in the first case over seven charges of criminal breach of trust, money laundering and abuse of power against Najib for allegedly illegally receiving nearly US$10 million from former 1MDB unit SRC International Sdn Bhd.
He has plead not guilty.
“This is my chance to clear my name,” Najib said in a Facebook post last night.
“Whatever the decision tomorrow at the high court, it does not end here,” he said, adding that both sides would appeal any decision at the Federal Court.
Najib’s lawyers say he was misled by Penang businessman Jho Low and other 1MDB officials into believing that the funds banked into his accounts were donated by the Saudi royal family, rather than misappropriated from SRC International as prosecutors have alleged. Low denies wrongdoing.
Court proceedings are expected to start at 10am at the Kuala Lumpur High Court.
Some of Najib’s supporters had gathered near the courthouse this morning. Roads to the court were closed off for security reasons.
If convicted, the former PM could be punished with hefty fines and jail terms of up to 15 or 20 years on each charge.
It is unclear if he will be sentenced immediately if found guilty. His lawyers have said sentencing could be delayed or suspended due to the complex nature of the case.
The implementation of the sentence can also be stayed if Najib pursues an appeal at the federal court.
Allegations of corruption over 1MDB have hung over Najib for more than five years.
But the criminal charges came only after his defeat in the 2018 election when his successor Dr Mahathir Mohamad reopened investigations.
The closely-watched case is seen as a test of Malaysia’s efforts to root out corruption, after Najib’s party was returned to power in February as part of an alliance led by Prime Minister Muhyiddin Yassin.
The verdict could have far reaching political implications.
A guilty verdict could boost Muhyiddin’s credibility with the public, but weaken his coalition, which counts Najib’s Umno as its biggest component – and potentially trigger snap polls.
An acquittal could turn public sentiment against Muhyiddin, and encourage the opposition to challenge the ruling coalition’s two-seat majority in Dewan Rakyat.
The court’s decision comes just days after Malaysia reached a US$3.9 bil deal with Goldman Sachs over its role in helping 1MDB raise money. – July 28, 2020, Reuters
