BR100 Increased By (1.5%)
BR30 Increased By (1.4%)
KSE100 Increased By (1.33%)
KSE30 Increased By (1.4%)
AGHA 7.87 Increased By ▲ 0.12 (1.55%)
BECO 5.22 Increased By ▲ 0.03 (0.58%)
BML 57.50 Decreased By ▼ -1.16 (-1.98%)
BOP 34.64 Increased By ▲ 0.95 (2.82%)
CNERGY 10.92 Increased By ▲ 0.31 (2.92%)
CSIL 5.41 Increased By ▲ 0.11 (2.08%)
FCCL 54.66 Increased By ▲ 0.92 (1.71%)
FFL 16.79 Increased By ▲ 0.33 (2%)
FNEL 1.22 No Change ▼ 0.00 (0%)
KEL 7.47 Increased By ▲ 0.19 (2.61%)
KOSM 5.69 Increased By ▲ 0.05 (0.89%)
LOTCHEM 30.05 Increased By ▲ 0.40 (1.35%)
MLCF 97.44 Increased By ▲ 1.08 (1.12%)
NBP 206.50 Increased By ▲ 2.97 (1.46%)
NCPL 58.25 Increased By ▲ 1.40 (2.46%)
NPL 69.25 Increased By ▲ 1.94 (2.88%)
OGDC 322.15 Increased By ▲ 3.93 (1.23%)
PACE 10.82 Increased By ▲ 0.19 (1.79%)
PAEL 42.80 Increased By ▲ 1.03 (2.47%)
PIBTL 17.20 Increased By ▲ 0.39 (2.32%)
PPL 223.80 Increased By ▲ 3.63 (1.65%)
PRL 52.40 Increased By ▲ 3.35 (6.83%)
PTC 71.10 Increased By ▲ 1.09 (1.56%)
SSGC 29.65 Increased By ▲ 0.51 (1.75%)
TBL 9.90 Increased By ▲ 0.13 (1.33%)
TELE 8.99 Increased By ▲ 0.17 (1.93%)
TPL 17.55 Increased By ▲ 0.38 (2.21%)
TPLP 13.07 Increased By ▲ 0.56 (4.48%)
TREET 22.94 Increased By ▲ 0.35 (1.55%)
TRG 60.62 Increased By ▲ 0.40 (0.66%)
By

KUALA LUMPUR: Malaysia’s top court ordered former prime minister Najib Razak to begin a 12-year prison sentence on Tuesday after upholding a guilty conviction on charges related to a multi-billion dollar graft scandal at state fund 1Malaysia Development Berhad (1MDB).

The Federal Court ruling caps the stunning downfall of Najib, who until four years ago governed Malaysia with an iron grip and suppressed local investigations of the 1MDB scandal that has implicated financial institutions and high-ranking officials worldwide.

Investigators have said some $4.5 billion was stolen from 1MDB - co-founded by Najib during his first year as prime minister in 2009 - and that over $1 billion went to accounts linked to Najib.

Najib, wearing a dark suit and tie, sat in the dock as the verdict was read out. His wife, Rosmah Mansor, who is also facing corruption charges, and three children were seated behind him.

Security officials then gathered around the bespectacled former premier and he was later seen leaving court in a black car with police escort.

A court official and sources close to Najib said he was taken to Kajang Prison, about 40 km away from capital Kuala Lumpur.

“This is unprecedented. Najib will be remembered for his many firsts, the first prime minister to lose a general election, the first to be convicted,” said Adib Zalkapli, Director at political risk consultancy BowerGroupAsia.

The British-educated son of Malay nobility held the premiership from 2009 to 2018, when public anger over the graft scandal brought election defeat, and dozens of corruption charges were lodged in following months.

Najib, 69, was found guilty by a lower court in July 2020 of criminal breach of trust, abuse of power and money laundering for illegally receiving about $10 million from SRC International, a former unit of 1MDB. He had been out on bail pending appeals.

The former premier, who had pleaded not guilty, was sentenced to 12 years’ jail and a 210 million ringgit ($46.84 million) fine.

The wide-ranging 1MDB scandal prompted the US Department of Justice to open what became its biggest kleptocracy investigation.

Opposition leader Anwar Ibrahim said the verdict proved the power of the people.

“The people made the decision in 2018 to ensure an independent judiciary and that the country is clean of bribery. That decision allowed proceedings to be brought professionally,” he said.

Comments

Comments are closed for this article.