KUALA LUMPUR: The High Court will hand down its verdict in former Prime Minister Datuk Seri Najib Abdul Razak’s first corruption trial today, following a long-running case probing his role in the alleged money laundering involving 1MDB-linked company SRC International.
Najib and his inner circle are accused of plundering sovereign wealth fund 1Malaysia Development Berhad in a fraud that stretched around the world.
The Kuala Lumpur High Court is expected to deliver the verdict at 10.00am.
The case centres on the transfer of RM42 million from SRC International into his bank accounts.
The ex-leader, who is facing four charges of corruption and three of money-laundering in the case, denies wrongdoing and insists he was ignorant of the transactions.
The defence team have portrayed Najib as a victim and instead sought to paint financier Low Taek Jho, a key figure in the scandal who has been charged in the US and Malaysia, as the mastermind.
Low, whose whereabouts are unknown, maintains his innocence.
Prosecutors however insist Najib was in control of SRC International.
Test of rule of law
The verdict is a test of the rule of law in Malaysia, and comes about five months after Umno returned to power as part of a coalition following the collapse of Pakatan Harapan.
Since then, 1MDB-linked charges were unexpectedly dropped against Najib’s stepson Riza Aziz, one of the “Wolf of Wall Street” producers, in exchange for him agreeing to return assets to the government.
Prosecutors also dropped dozens of charges against Najib’s ally former Sabah Chief Minister Tan Sri Musa Aman.
If Najib - currently free on bail - is convicted on Tuesday, he could be sentenced the same day.
Each charge of corruption carries a maximum jail term of 20 years, and each money-laundering count is punishable by a term of up to 15 years.
But the 67-year-old is likely to appeal, and may not be jailed straight away.
If he is found guilty and the conviction is upheld, then he would also be barred from political office for several years.
The amounts involved in Najib’s first case are small compared to those in his second and most significant trial, which centres on allegations he illicitly obtained over RM2.6 billion.
Local authorities have charged Goldman Sachs and some current and former staff, claiming large amounts were stolen when the bank arranged bond issues for 1MDB.
But the two sides agreed to a US$3.9 billion (RM16.58 bilion) settlement last week in exchange for charges being dropped. - AFP
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