KUALA LUMPUR — A court in Malaysia on Tuesday pronounced former Prime Minister Najib Razak guilty of money laundering, abuse of power and criminal breach of trust in connection with a multibillion-dollar financial scandal.
The verdict is the first in a number of cases against Najib over allegations he received hundreds of millions of dollars from a state investment fund called 1Malaysia Development Bhd., or 1MDB, which he launched in 2009.
He had pleaded not guilty to the charges of criminal breach of trust, money laundering, and abuse of power.
The 1MDB scandal around a state-owned wealth fund in Malaysia has uncovered a global web of fraud and corruption.
It sent shock waves through Malaysia's political establishment, leading to the defeat of Najib's UMNO party, which had ruled the country for 61 years since it gained independence.
Najib could now face decades in jail — but he is expected to remain out of jail until appeals are exhausted.
"After considering all evidence in this trial, I find that the prosecution has successfully proven its case beyond a reasonable doubt," the judge told the Kuala Lumpur High Court.
Ahead of the hearing, Najib said he would fight on until the end, vowing to appeal against any guilty verdicts against him. "This is my chance to clear my name," he posted on Facebook.
Tuesday's verdicts focused on 42 million ringgit ($10m) transferred from the fund to the then-prime minister's private accounts.
Najib denies all wrongdoing and says he was misled by financial advisers — in particular fugitive financier Jho Low.
Jho Low has been charged in both the US and Malaysia, but also maintains his innocence. — Agencies
