Berliner Boersenzeitung - Malaysia's Najib to face verdict in mega 1MDB graft trial

The 72-year-old faces four counts of abuse of power and 21 counts of money laundering relating to the plunder of hundreds of millions of dollars from the Southeast Asian nation's 1MDB sovereign wealth fund, sparking probes in several countries.

If found guilty, the man once seen as political royalty faces years more behind bars, already serving a six-year jail term after a conviction in a separate case relating to the 1MDB fund.

It was not known whether sentencing would immediately follow a guilty verdict, but if acquitted, Najib will return to Kajang Prison outside Kuala Lumpur to continue serving his prior sentence.

The verdict proceeding, expected to start at 9:00 am (0100 GMT) before the Kuala Lumpur High Court, will take place in Malaysia's administrative capital Putrajaya.

Judge Collin Lawrence Sequerah will deliver his verdict in the marathon trial, seen as the main case in the 1MDB affair and which involves some 2.28 billion ringgit ($563 million).

Prosecutors say Najib abused his position as prime minister, finance minister and 1MDB advisory board chairman to move large amounts of money from the fund to his personal accounts more than a decade ago.

The prosecution presented bank records, testimony from over 50 witnesses and documentary evidence, while slapping down defence arguments blaming Najib's close associate -- the shadowy fugitive businessman Low Taek Jho, also known as Jho Low.

Low, who is currently on the run, is seen as the mastermind behind the scheme to plunder the country's investment vehicle and spend the proceeds on everything from high-end real estate to pricey art, including a Monet and a Van Gogh.

- 'Powerful decision-maker' -

Prosecutors said Najib "paints himself as a victim of rogue subordinates, when in truth, he was the single most powerful decision-maker".

"The accused wielded absolute financial, executive and political control," Ahmad Akram Gharib told the court during closing arguments.

Najib's lawyers say the money that flowed into his account was donations from the Middle East.

They argued the politician was unaware that 1MDB's management was working hand in glove with Low to suck out large amounts of money from the fund, ostensibly established to foster economic growth in Malaysia.

Najib's lawyer, Muhammad Shafee Abdullah, last week told journalists his client "never got a fair trial".

He again blamed Low for the scandal which sparked probes internationally, from neighbouring Singapore to Europe and the United States, and rocked Malaysia's image abroad.

Najib has issued an apology for the 1MDB scandal happening during his tenure, but maintains he knew nothing about illegal transfers from the now-defunct state fund.

His legal battle was dealt a blow on Monday after he lost a bid to serve the remainder of his current jail term at home.

A conviction could further hamper his lingering influence within Malaysia's oldest political party, the United Malays National Organisation, which was ousted from power in 2018.

Each count of abuse of power is punishable by up to 20 years in jail and a fine of up to five times the amount of the bribe.

(H.Schneide--BBZ)