The former Prime Minister of Malaysia, Najib Razak, was found guilty on Tuesday in the so-called 1MDB scandal. Among other things, he is accused of stealing more than EUR 605 million from the government investment fund.
Razak was on trial for seven charges of corruption. He is said to have been guilty of, among other things, money laundering and abuse of power. The former prime minister was found guilty of all charges. He has a prison sentence of fifteen to twenty years above his head.
“After considering all the evidence in this lawsuit, I believe the prosecutors have successfully proved the allegations,” said the Supreme Court judge in Kuala Lumpur.
The 1MDB fund was created to stimulate the Malaysian economy through strategic investments. However, since 2015, the fund has been associated with money laundering and fraud, among others. US investment bank Goldman Sachs closed billions of dollars in deals for 1MDB. The bank claims to have been misled. Last week Malaysia and Goldman Sachs settled for more than 3.3 billion euros.
The former prime minister received almost 900 million euros
Razak received, among other things, an amount of approximately 9 million euros from SRC International, a former 1MDB company. In total, according to researchers, he even paid almost 900 million euros in his bank account. He also turned out to have more than 265 million euros in cash and property in his possession.
The former prime minister has been accused of corruption for over five years. Due to the corruption scandal and rising cost of living, residents of Malaysia voted against Razak in the 2018 elections. His government fell and he was replaced by Mahathir Mohamad.
Razak said earlier that he is innocent. According to him, the accusations are politically motivated.