KUALA LUMPUR, Malaysia — Malaysia’s Supreme Court on Wednesday ordered jailed former Prime Minister Najib Razak to defend himself in his second multi-billion dollar corruption trial looting of the sovereign wealth fund 1MDB.
Najib has the 1 State Fund Malaysia Development Berhad shortly after taking power in 2009 to promote economic development, but the fund amassed billions in debt. Investigators allege that more than $4.5 billion was stolen from the fund and laundered by its associates to finance Hollywood films and extravagant purchases.
The prosecution based its case on four charges of abuse of power to obtain more than $700 million from the fund deposited into Najib’s bank accounts between 2011 and 2014, and on 21 counts of money laundering involving the same amount, Judge Collin said Lawrence Sequerah Wednesday.
He said evidence showed that Najib had a vested interest in 1MDB and that he played a crucial role in all relevant transactions that ultimately led the fund into debt. Testimony from witnesses also contradicted Najib’s claim that the money in his bank accounts was a donation from Saudi Arabia’s royal family, the judge said.
The court called on Najib to defend himself and the trial was scheduled to resume on December 2. Najib, 71, calm in a blue suit during the proceedings, told the court he would testify under oath.
Lawyer Mohamed Shafee Abdullah told reporters that Najib was disappointed with the court’s ruling.
“We are not giving up and we are going to fight this case,” he added.
The 1MDB scandal rocked Najib’s government and he was defeated in the 2018 elections. He faces a slew of lawsuits and then began serving time in 2022 lose his last profession in its first transplant case linked to 1MDB.
Najib’s current trial started in August 2019. It ties him directly to the scandal and involved 50 witnesses who testified over a hearing that lasted more than 230 days.
On October 24, Najib issued a rare apology for the scandal “on his watch” but reiterated his innocence.
Najib faces a prison sentence of up to 20 years for each charge of abuse of power and up to five years for each charge of money laundering. In addition, Najib still has an ongoing criminal breach of trust case and another money laundering case. Are wife Rosmah Mansor and other senior government officials are also accused of corruption.