All Corruption Charges Against Former Malaysian Prime Minister Najib Found 'Guilty'

Sentencing Delayed Despite Expected 15-20 Year Term
Earlier, Goldman Sachs Agreed to $3.9 Billion Settlement

[Asia Economy Reporter Naju-seok] Najib Razak, former Prime Minister of Malaysia, has been found guilty on all seven corruption charges.

On the 28th, a Malaysian court sentenced former Prime Minister Najib guilty on all corruption charges committed during his tenure. Najib is accused of embezzling funds along with his associates after establishing a state-owned investment company called '1MDB' under the pretext of economic development during his administration.

The Kuala Lumpur High Court of Malaysia stated, "After reviewing all the charges brought in this trial, the criminal allegations are sufficiently proven." Najib faced charges including breach of trust, money laundering, and abuse of power. He had maintained his innocence regarding these charges.

Najib Razak, former Prime Minister of Malaysia, convicted on corruption charges
[Image source=EPA Yonhap News]

According to the related charges, a hefty fine and a prison sentence of approximately 15 to 20 years are expected. Najib's lawyer requested a suspension of sentencing, so the final sentence has not yet been imposed. Najib plans to appeal to a higher court.

Although allegations had been raised for years, the criminal facts were confirmed through a full investigation after his defeat in the 2018 general election. He is accused of embezzling $4.5 billion from 1MDB.

Meanwhile, global investment bank Goldman Sachs agreed to pay a settlement of $3.9 billion and to halt criminal prosecution related to the '1MDB scandal.' Goldman Sachs agreed to pay $2.5 billion in cash and to guarantee the return of $1.4 billion from profits related to 1MDB assets.

This content was produced with the assistance of AI translation services.