Berliner Boersenzeitung - Malaysia's Najib convicted of abuse of power in 1MDB graft trial

His conviction is likely to heap years onto the six-year term he is already serving for a separate case related to the 1MDB fund.

Presiding Judge Collin Lawrence Sequerah convicted the 72-year-old former leader on Friday on all four counts of abuse of power. Najib will also face a verdict on 21 counts of money laundering linked to the fund, which sparked probes in several countries, from Singapore to the United States.

While Najib, the son of one of the country's founding fathers, was groomed for leadership from a young age, he experienced a spectacular fall from power as public anger mounted over the corruption scandal.

Since Najib's 2018 election loss, investigations under successive governments have ensnared him and wife Rosmah Mansor in graft allegations.

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

According to investigators, proceeds from the state fund were used to bankroll high-end real estate, a luxury yacht and precious artworks.

Friday's hearing opened around 9:00 am (0100 GMT) before the Kuala Lumpur High Court in the country's administrative capital of Putrajaya.

Presiding Judge Sequerah started reading a lengthy verdict, before breaking for Friday afternoon prayers, with the hearing resuming at 3:00 pm.

- 'Unmeritorious' -

During the morning reading, Judge Sequerah dismissed several of the defence lawyers' arguments, including that Najib was duped by his close associate, the shadowy businessman Low Taek Jho, better known as Jho Low.

"The evidence clearly points to the fact that this was no coincidence but was evident of a relationship in which Jho Low operated as a proxy or agent of the accused (Najib) with regard to the running of the affairs of 1MDB," Sequerah said.

The defence's argument that Najib was "misled and duped by management and by Jho Low is unmeritorious", the judge said.

Low, who is currently on the run, is seen as the mastermind behind the scheme to plunder the country's investment vehicle.

Sequerah also dismissed arguments that the money flowing into Najib's accounts was "donations" from Middle East funders, calling it a "tale that surpassed even those from the Arabian Nights".

The prosecution presented bank records, testimony from over 50 witnesses and documentary evidence.

Najib "paints himself as a victim of rogue subordinates, when in truth, he was the single most powerful decision-maker", deputy public prosecutor Ahmad Akram Gharib told the court during closing arguments.

"The accused wielded absolute financial, executive and political control," he said.

- 'No fair trial' -

Najib's lawyers have previously said the politician was unaware that 1MDB's management was working hand in glove with Low to siphon 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 dented Malaysia's image abroad.

Najib has apologised for allowing the 1MDB scandal to happen during his tenure, but he maintains he knew nothing about illegal transfers from the 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 rather than the Kajang Prison outside Kuala Lumpur.

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.

(K.Lüdke--BBZ)