"Jailed former Malaysian prime minister Najib Razak has been found guilty of abuse of power, in the biggest trial yet in the multibillion-dollar fraud scandal related to state fund 1MDB. Najib had been charged with four counts of corruption and 21 counts of money laundering for receiving illegal transfers of about 2.2bn ringgit ($544.15m) from 1MDB. He has consistently denied wrongdoing."
"Malaysian and US investigators say at least $4.5bn was stolen from 1Malaysia Development Berhad (1MDB), a state fund Najib co-founded in 2009 while in office. More than $1bn allegedly made its way into accounts linked to Najib, who has denied wrongdoing. Najib, 72, has been in prison since August 2022, when Malaysia's top court upheld a corruption conviction for illegally receiving funds from a 1MDB unit."
Najib Razak has been found guilty of abuse of power in a major trial tied to the multibillion-dollar 1MDB fraud scandal. He faced four counts of corruption and 21 counts of money laundering for allegedly receiving illegal transfers of about 2.2bn ringgit ($544.15m) from 1MDB. Malaysian and US investigators state that at least $4.5bn was stolen from 1Malaysia Development Berhad, a state fund Najib co-founded in 2009. More than $1bn allegedly flowed into accounts linked to Najib. Najib has consistently denied wrongdoing and has been in prison since August 2022 after a prior conviction was upheld.
Read at www.theguardian.com
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