The court in Malaysia has issued a verdict against former Prime Minister Najib Razak, sentencing him to 15 years in prison for corruption related to the state investment fund 1MDB. This was reported by Reuters.
Najib Razak was found guilty of several offenses, including money laundering, abuse of power, and misappropriation of state funds. The court also imposed a fine of 13.5 billion ringgit, which is equivalent to approximately $3.3 billion. Photo from the internet. Najib Razak According to Associated Press, of the specified amount, 11.4 billion ringgit was designated as a penalty for abuse of power, while 2.08 billion ringgit must be paid under anti-money laundering legislation.
Najib's lawyers have already announced their intention to appeal this verdict.
It is worth noting that Najib Razak served as Prime Minister of Malaysia from 2009 to 2018. The 1MDB case became one of the main reasons for his political downfall and subsequent criminal proceedings.
The 1Malaysia Development Berhad (1MDB) fund was established in 2009 to serve as a state investment tool for Malaysia's economic growth.
International investigations have established that more than $4.5 billion was embezzled from this fund. The funds were siphoned off through offshore companies and foreign bank accounts, and were also used to acquire real estate, luxury items, and finance international projects. The 1MDB case has been the subject of investigations in the USA, Switzerland, Singapore, and other countries.
This scandal is considered one of the largest corruption scandals in world history.
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