• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
Oneindia App Download

Former Malaysia PM found guilty of corruption in 1MDB financial scandal

|
Google Oneindia News

Kuala Lumpur, July 28: A court has found former Malaysian Prime Minister, Najib Razak guilty of corruption.

The court found him guilty in his first corruption trial linked to the 1MDB financial scandal.

Former Malaysia PM found guilty of corruption in 1MDB financial scandal

Huge sums were stolen from sovereign wealth fund 1Malaysia Development Berhad, allegedly by the ex-prime minister and his cronies, and spent on everything from high-end real estate to artwork.

His coalition was ousted at the polls last year after six decades in power, largely due to public anger over the scandal, and he has since been arrested and hit with dozens of charges linked to the looting of the investment vehicle.

Recommended Video

Covid-19: 1st case of vertical transmission in India & more news | Oneindia News

The 66-year-old went on trial in April last year over the controversy, in a case centring on the transfer of 42 million ringgit ( 10.1 million) from a former 1MDB unit into his bank accounts.

The case is one of several 1MDB-linked trials investigating Najib's conduct. The biggest opened in August, centring on allegations he illicitly obtained over 500 million from the fund.

US authorities, who are also investigating the fraud as money was allegedly laundered through the American financial system, believe 4.5 billion was looted from the fund.

For Daily Alerts
Best Deals and Discounts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X