Berliner Boersenzeitung - Judge jails ex-Malaysian PM Najib for 15 more years after new graft conviction

Najib was also fined 11.4 billion ringgit ($2.8 billion) for his role in the plunder of billions from the now-defunct 1Malaysia Development Berhad (1MDB) more than a decade ago.

He is already serving a six-year term after being convicted in a separate 1MDB case, and Judge Collin Lawrence Sequerah said Najib's latest term would begin only after that sentence was completed.

Sequerah convicted the 72-year-old former leader on all four counts of abuse of power as well as all 21 counts of money laundering, involving around 2.28 billion ringgit ($554 million) from the fund.

Najib, dressed in a navy blue suit and white shirt, was seen looking down, slumped in his seat as the judge read the verdict after a marathon eight-hour hearing.

The son of one of Malaysia's founding fathers, Najib was groomed for leadership from a young age but fell from power spectacularly as public anger mounted over the corruption scandal.

Investigations under successive governments have ensnared him and his wife, Rosmah Mansor, in graft allegations since his loss in 2018 elections.

Prosecutors say Najib abused his positions as prime minister, finance minister and 1MDB advisory board chairman to move vast sums from the fund into his personal accounts.

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

- 'Unmeritorious' -

Sequerah dismissed several of the arguments of Najib's defence team, including that he had been duped by his close associate, the shadowy businessman Low Taek Jho who is 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.

He said that the defence argument that Najib was "misled and duped by management and by Jho Low is unmeritorious".

Najib's lawyer, Muhammad Shafee Abdullah, told reporters they would appeal against the judgement because Sequerah had "blundered".

1MDB was a state investment fund launched by Najib in 2009, shortly after he became prime minister.

Whistleblowers said Jho Low, a well-connected Malaysian financier with no official role, helped set up the fund and made key financial decisions.

It is estimated that more than $4.5 billion was diverted from 1MDB between 2009 and 2015 by fund officials and associates, including Low, who is on the run.

Sequerah also dismissed claims that Middle East donors -- including the late Saudi King Abdullah -- were responsible for the money flowing into Najib's accounts, calling it a "tale that surpassed even those from the Arabian Nights".

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

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

- Apology -

Najib's lawyers have said he was unaware that 1MDB's management was working hand-in-glove with Low to siphon large amounts of money from the fund, which was ostensibly established to foster economic growth in Malaysia.

Shafee told journalists last week his client "never got a fair trial".

He again blamed Low for the scandal, which sparked probes in several countries from Singapore to the United States, and dented Malaysia's image abroad.

Najib has apologised for allowing the 1MDB scandal to happen during his tenure but has consistently denied wrongdoing, maintaining he knew nothing about illegal transfers from the fund.

His legal battle was dealt yet another 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.

(S.G.Stein--BBZ)