Berliner Boersenzeitung - Malaysia's Najib Razak: from PM to prison

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.833961
GBP 0.834166
GEL 2.893653
GGP 0.833961
GHS 13.055243
GIP 0.833961
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.833961
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.833961
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.311039
MNT 4015.078679
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 133.25575
WST 3.108617
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.644798
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Malaysia's Najib Razak: from PM to prison
Malaysia's Najib Razak: from PM to prison / Photo: Arif Kartono - AFP

Malaysia's Najib Razak: from PM to prison

The son of one of Malaysia's founding fathers, Najib Razak was groomed for the prime minister's post from a young age.

Text size:

But after running the country for nine years he now faces more than a decade in jail for corruption in a spectacular fall over his links to the misuse of billions in public money.

Malaysia's highest court on Tuesday upheld Najib's 12-year jail sentence over the theft of cash from state fund 1MDB, slamming shut the door on any further political ambitions the former leader may have held.

Since his shock election defeat in May 2018, Najib has faced a tightening noose as successive governments ramped up investigations into the allegations of graft that have hung over him and wife Rosmah Mansor.

Later that year Najib was found guilty of abuse of power, money laundering and criminal breach of trust over the 1MDB scandal.

The convictions relate to his role in diverting 42 million ringgit (about $10 million) from SRC International, a unit of 1MDB, into his personal bank accounts.

Najib's downfall is a far cry from 2009 when he first took office offering hope for many in Malaysia longing for an end to the repressive tactics deployed by a once-invincible coalition that ruled for six decades.

He initially espoused liberal political views and replaced security laws widely criticised as stifling dissent.

But the British-educated Najib was seen by many Malaysians as an aloof elitist with little understanding of common people.

That perception was accentuated by frequent tone-deaf gaffes as well as policies unpopular with the poor, such as a sales tax introduced in 2015 that is now set to be scrapped.

His wife Rosmah was also a constant lightning rod for critics due to her imperious manner and elaborately coiffed hair, which she once complained cost her 1,200 ringgit ($270) to style. Malaysia's minimum monthly wage at the time was 900 ringgit.

- 'Cash is king' -

Then-prime minister Mahathir Mohamad has said Najib told him in 2015 that "cash is king" in maintaining political support in Malaysia, a phrase that opponents turned against Najib as a sign of his hubris and corruption.

Money and power appeared to act as a firewall protecting Najib through a scandal involving Malaysia's 2002 purchase of French submarines while he was defence minister, a deal brokered by a close associate.

Allegations later emerged of huge kickbacks to Malaysian officials to secure the deal, and the murky episode was punctuated by the murder of a Mongolian woman involved in the negotiations.

Altantuya Shaariibuu was shot dead and her body blown up near Kuala Lumpur using military-grade explosives.

Two officers in a special unit that guarded Malaysian ministers were convicted of the killing, but suspicion that Najib and Rosmah were involved hovered for years, with Najib at one point forced to deny he had an affair with the 28-year-old Altantuya.

- Final straw -

The final straw was 1MDB, a fund Najib launched in 2009 to promote economic development.

Soon after he won a second term in 2013, 1MDB slid into a massive debt hole and allegations surfaced that money was missing.

Public disgust with reports that emerged around 2015 detailing the plunder of the sovereign wealth fund snowballed into a Mahathir-led electoral tsunami that left Najib in the crosshairs of police.

US authorities say Najib's entourage used hundreds of millions in diverted 1MDB funds to purchase high-end real estate in Los Angeles, New York and London.

Other spending on the public purse included a Monet painting for $35 million, a $5.5 million work by Van Gogh, a $35 million Bombardier jet and financing for the 2013 Hollywood film "The Wolf of Wall Street", which was produced by Najib's stepson Riza Aziz.

A 2015 investigative report by the New York Times also alleged that millions of dollars were used to purchase jewellery for Rosmah.

In a speech in December 2017, then-US attorney general Jeff Sessions said of the scandal: "This is kleptocracy at its worst."

Najib steadfastly denied wrongdoing while persecuting his accusers and shutting down media outlets that reported on the affair.

In the end, the 69-year-old cut a dejected figure in court as the final verdict was read Tuesday.

"We were told he has been taken to Kajang Prison, south of the capital Kuala Lumpur," Nur Sharmila Shaheen, his daughter-in-law, told AFP.

(A.Berg--BBZ)