Malaysian court orders Najib to enter defense in his 2nd graft trial linked to 1MDB scandal
Malaysia's High Court has ordered imprisoned former Prime Minister Najib Razak to enter a defense in his second corruption trial over the multibillion-dollar looting of the 1MDB state investment fund
KUALA LUMPUR, Malaysia (AP) — Malaysia's High Court on Wednesday ordered imprisoned former Prime Minister Najib Razak to enter a defense in his second corruption trial over the multibillion-dollar looting of the 1MDB state investment fund.
Najib set up the 1Malaysia Development Berhad state fund shortly after taking power in 2009 to promote economic development, but the fund amassed billions in debt. Investigators allege more than $4.5 billion was stolen from the fund and laundered by his associates to finance Hollywood films and extravagant purchases.
The prosecution established its case on four charges of abuse of power to obtain over $700 million from the fund that went into Najib's bank accounts between 2011 and 2014, and 21 counts of money laundering involving the same amount, trial judge Collin Lawrence Sequerah said Wednesday.
He said evidence showed Najib had a vested interest in 1MDB, and his pivotal role in all relevant transactions that eventually plunged the fund into debt. Testimony by witnesses also contradicted Najib's claim that the funds in his bank accounts were a donation from the Saudi Arabia royal family, the judge said.
