Former Malaysian prime minister Najib Razak was convicted on Friday of abusing his power to siphon billions of ringgit from the 1Malaysia Development Berhad (1MDB) sovereign wealth fund and laundering the proceeds.
Presiding judge Collin Lawrence Sequerah found the 72-year-old guilty on all four counts of abuse of power and 21 counts of money laundering, involving about 2.28 billion ringgit ($554 million). Sentencing was expected later in the day and could add years to the six-year prison term Najib is already serving in a separate 1MDB-related case.
Najib, dressed in a navy blue suit, appeared downcast as the verdict was delivered. Once groomed for leadership as the son of one of Malaysia’s founding figures, he has seen a dramatic fall from power since losing office in 2018 amid public outrage over the scandal.
Prosecutors said Najib exploited his roles as prime minister, finance minister and chairman of 1MDB’s advisory board to divert large sums from the fund into his personal bank accounts more than a decade ago. Investigators said the money was used to finance luxury properties, a superyacht and valuable artworks.
In his ruling, Judge Sequerah rejected the defence’s claim that Najib had been deceived by fugitive financier Low Taek Jho, widely known as Jho Low. The judge said the evidence showed Low acted as Najib’s proxy in managing 1MDB’s affairs, dismissing the argument that Najib had been misled as “unmeritorious”.
The judge also rejected claims that Middle Eastern donors were the source of funds found in Najib’s accounts, describing the explanation as implausible. The prosecution relied on bank records, extensive documentation and testimony from more than 50 witnesses.
1MDB was launched by Najib in 2009 to promote economic development but became the centre of one of the world’s largest financial scandals. Authorities estimate more than $4.5 billion was misappropriated between 2009 and 2015. Jho Low, who had no official role in the fund, remains on the run.
Najib has apologised for the scandal but continues to deny wrongdoing, insisting he was unaware of illegal transfers. Each abuse-of-power conviction carries a potential sentence of up to 20 years in prison and heavy fines, underscoring the gravity of the case.
