Verdict on Najib’s First 1MDB-Linked Trial Set for July 28
(Bloomberg) -- The verdict on Malaysian former leader Najib Razak's earliest trial linked to 1MDB is set to be delivered next month.
The judge will announce his ruling on July 28 after having heard submissions from prosecutors and the defense team on the case revolving around SRC International Sdn., a former unit of 1MDB. Najib faces charges of abuse of power, criminal breach of trust and money laundering involving 42 million ringgit ($9.8 million) that allegedly came from SRC.
How Malaysia's 1MDB Scandal Shook the Financial World: QuickTake
The case was the first to go to trial out of the many proceedings faced by the former premier over his alleged role in 1MDB, the troubled state fund that has spurred corruption investigations worldwide.
Since the hearing started in April last year, prosecutors have called dozens of witnesses to argue Najib engaged in a “planned, premeditated criminal breach of trust case” that ran over many years. His lawyers said he had been misled by others, including fugitive financier Jho Low, who faces his own set of charges linked to 1MDB.
Najib was first slapped with the charges in 2018, months after he was ousted from power in Malaysia's first change of government since its independence. His party has since returned to power following a political turmoil in February that led to Muhyiddin Yassin becoming prime minister. Muhyiddin's government has pledged to continue fighting corruption, even as it was met with backlash after striking a settlement deal with Najib's stepson.
©2020 Bloomberg L.P.
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