Everything About Former PM Najib’s Conviction of 7 Charges, With Each Charge Carrying Up to 20 Years’ Jailtime

Former Prime Minister Najib Razak’s story was so epic it was featured on Netflix.

The series that the former powerhouse husband-wife-duo is featured in is called Dirty Money.

And yes, it featured the 1MDB scandal.

A scandal that found the ex-PM Najib guilty of the charges today (28 July 2020).

His Charges

In total, Najib is facing seven charges today:

• one count of abuse of power
• three counts of criminal breach of trust
• and three counts of money laundering regarding the misappropriation of RM42 million (S$13.6 million) from SRC International

Each of the charges carries a prison term of 15 to 20 years.

Guilty of All Charges

High Court judge Mohd Nazlan Mohd Ghazali, who was presiding over the trial, finds Najib guilty of all seven charges.

He said that after considering all the evidence in this trial, he found that the prosecution has “proven its case beyond reasonable doubt”.

Najib’s supporters, on the other hand, felt that the trial and the decision was a politically motivated move.

He has also declared, in a Facebook post, that he will be appealing against the decision at the Federal court.

But wait, there’s more.

This Is Just The First Of Five Trials

Malaysia’s former prime minister isn’t facing just 7 charges.

He’s facing 42 counts of corruption, abuse of power and money laundering across five different court cases.

US authorities alleged that over US$4.5 billion (S$6.2 billion) was embezzled from the state fund, 1MDB, and spent to purchase yachts, paintings and high-end properties across the world.

Najib was also ordered to pay RM1.69 billion to the Inland Revenue Board for unpaid taxes.

The Timeline Of The 1MDB Saga

Now, in case you’re late to the party and you’re wondering if 1MDB and IMDb are the same since Najib is now a celebrity on a Netflix show, here’s a simple timeline to explain the whole saga:

2009

In July, then-PM and finance minister Najib Razak launched 1MDB, a “strategic development company driving new ideas and new sources of growth”.

Najib was the chairman on its board of directors.

Two months later, 1MDB signs with PetroSaudi International and invested US$1 billion for a 40% stake in a joint venture company.

2012

In March, Najib launched the Tun Razak Exchange, which was built by 1MDB as a new financial district in Kuala Lumpur.

Najib claims that the “first phase” of this project will bring in US$856.8 million in direct foreign investment.

In May and Oct the same year, US investment bank Goldman Sachs helped 1MDB sell bonds worth US$3.5 billion.

2013

In March of 2013, Goldman Sachs helped 1MDB raise another $3 billion.

In December of that year, the movie, Wolf of Wall Street, and it was produced by Najib’s stepson Riza Aziz and financed by Jho Low.

2015

This was the year that things started falling apart.

In January, 1MDB missed a loan repayment.

In March, a task force was set up to investigate the company.

In July, it was revealed that nearly US$700 million were put into Najib’s personal bank account.

That was when Najib started to move, by removing critics from the government, reshuffling the cabinet and firing the person who was leading the investigation into him.

The domestic investigation was then shut down.

2016

The new attorney-general cleared Najib of the charges, says the amount was a donation from a prince in Saudi Arabia.

In the Netflix documentary, Najib said that in Malaysia, it wasn’t illegal for them to receive “gifts”.

In July the same year, the US filed a civil lawsuit to seize assets that were allegedly bought with 1MDB funds.

2017

This year, the US took a prominent role.

In June, the Justice Department alleges that more than US$4.5 billion were embezzled by senior officials and their associates.

Two months later, a criminal investigation was “underway”.

2018

The opposition coalition, led by ex-prime minister Mahathir wrestled the ruling mandate away from the ruling United Malays National Organisation (UMNO) in 2018.

Two days later, Najib and wife were banned from leaving Malaysia after they announced they were going on a short holiday.

The authorities conducted raids on properties linked to Najib and his wife and seized items – including handbags and jewellery -amounting to more than US$270 million.

Charges were also made against Najib, his wife Rosmah, and Goldman Sachs.

2019

Najib’s first trial started and a superyacht, allegedly bought with funds from 1MDB, was finally sold.

2020

The ruling mandate returns to UMNO and Najib’s stepson, who produced the movie in 2013, was cleared of all charges after a US$107.3 million settlement with the prosecutors.

In June, Najib tries to get the government to pay for damaging his wife’s bags.

In July, Malaysia manages to reach a US$3.9 billion settlement with Goldman Sachs as well and stops investigating the bank’s role in the 1MDB scandal.

Malaysia’s finance minister said then that the settlement amount was money that “rightfully” belongs to the people of Malaysia.

He added that he was glad they could reach this settlement as a trial would mean more money and resources spent.

Najib found guilty of seven charges and if an election is called, he won’t be able to run for a seat while the guilty verdict still stands.

Meaning he’ll be kicked out of the government.

Currently, he still holds a parliamentary seat in Pekan, Pahang.