Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Former Malaysian PM Najib Razak takes stand during 1MDB corruption trial

Najib testifies for the first time, having pleaded not guilty to the charges of criminal breach of trust, money laundering and abuse of power. His lawyer tells court ‘he was not involved in any corrupt arrangement involving funds … and did not solicit any bribes from any person’

Former Malaysian Prime Minister Najib Razak took to the witness box for the first time on Tuesday to defend himself on criminal charges linked to a multibillion-dollar scandal at state fund 1Malaysia Development Bhd (1MDB).

Najib is accused of illegally receiving 42 million ringgit (US$10 million) from former 1MDB unit SRC International and was ordered to present his defence in November after a judge ruled prosecutors had successfully established a case against him.

He has pleaded not guilty to the charges of criminal breach of trust, money laundering and abuse of power in the SRC case.

Muhammad Shafee Abdullah, who leads Najib’s defence team, said in an opening statement ahead of the former premier’s testimony, that his client had no reason to believe that proceeds of any illegal activity were transferred to him.

“[Najib] was not involved in any corrupt arrangement involving funds of SRC and did not solicit any bribes from any person,” he said.

Najib, clad in a blue suit, took the oath in both English and Malay before starting to read from his 243-page-long written testimony in Malay.

His testimony, in a question and answer format, began with how he set up 1MDB in 2009 and how the fugitive Malaysian financier Jho Low, said to be at the centre of the scandal, came to be associated with the fund.

“[Low] portrayed himself as someone influential in the Middle East countries who I believed was able to facilitate investments and partnerships between them,” Najib said, speaking calmly and deliberately to a packed courtroom.

Low has been charged in Malaysia and the United States over the alleged theft from 1MDB. Low has denied any wrongdoing. His whereabouts are unknown.

The US Department of Justice has said about US$4.5 billion siphoned from 1MDB was used by Low and his associates to buy a yacht, a private jet, as well as Picasso paintings, jewellery, and real estate.

Najib, who unexpectedly lost a general election last year, is now facing dozens of graft and money laundering charges over allegations that he received about US$1 billion in 1MDB funds. He has pleaded not guilty to all the charges.

If convicted, Najib, 66, could face hefty fines and jail terms ranging from 15 to 20 years on each charge.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
AI’s Next Bottleneck Is Power, Not Just Nvidia Chips
Meta Raises AI Spending Target to as Much as $145bn Despite Pressure Over Returns
Danube Drought Exposes Nazi Wrecks and Pushes Central Europe’s Power System to the Brink
Joe Biden’s Cancer Has Spread Beyond His Bones, Hunter Biden Says
Why 2027 Could Be a Strong Year for Stocks—and Why the Forecast Is Fragile
Why Markets May Look Quiet in August After Big Tech Earnings
UK Drought Cuts Harvests and Raises Food-Security Fears
UFO: Pentagon Releases Video of Unidentified Object Tracked Over Middle East
Ukraine Tells Senate Republicans Its Drone War Offers a Blueprint for America
Weight-Loss Drug Boom Tests the Limits of Prescription Advertising Rules
Senate Scrutinises AI-Driven Personalised Pricing
Spain Seeks Mainland Transfers for 1,100 Children Stranded in Ceuta
Spain and Morocco Trade Blame After 72,000 Migrants Enter Ceuta
AI Is Remaking the US Economy, From GDP Growth to iPhone Prices
Europe’s Heat and Drought Are Now Disrupting Power, Shipping and Tourism
Europe’s Drying Rivers Trigger Power Cuts, Factory Shutdowns and Wildfire Emergencies
Record-Low Danube Forces Nuclear Cuts and Emergency Power Curbs
Danube Drought Forces Hungary’s Paks Nuclear Plant Into Full Shutdown
Ceuta Death Toll Rises as Spain and Europe Clash Over Border Response
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
Record-Low Danube Exposes Probable Mammoth Remains in Bulgaria
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
The AI User Nightmare: Private Claude Conversations Leaked to the Internet
Over 24 Hours in the Air: Qantas Airbus Completes Record-Breaking Test Flight
Massive Wildfires Ravage Southern Europe: Fatalities in Greece and Evacuations Across France, Spain, and Turkey
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Miliband Sets Climate and International Law at Centre of UK Diplomacy
Czech Central Bank Governor Rejects Early Euro Entry and Rate-Cut Pressure
Trump Readies New Tariffs as Temporary Global Levy Nears Expiry
Vivienne Westwood Casts Cicciolina, 74, in Its New Autumn Campaign
Dejavu: Germany’s Military Expansion Reshapes Europe’s Strategic Balance With France
Morgan Stanley Builds a Wall Street Lead in AI Infrastructure Finance
High Prices Push Coffee Drinkers Toward Whole Beans and Home Brewing
Trump Draws Boos and Podium Scrutiny at Spain’s World Cup Triumph
Brilliant move: Péter Magyar Moves to Nominate Chess Grandmaster Judit Polgár as Hungary’s President
Spain Defeats Argentina in Extra Time to Win Second World Cup
Current AI Seeks to Build an Open Global AI Infrastructure Outside Big Tech Control
Germany’s Economic Malaise Reopens the Sunday Shopping Debate
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Netherlands Declares Water Shortage Emergency After Drought Pushes Rivers to Historic Lows
Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist
Ukrainian Drones Strike Wildberries Warehouses Deep Inside Russia
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
×