Malaysia's ex-PM Najib Razak found guilty in 1MDB scandal case

Agencies
July 28, 2020

Kuala Lumpur, Jul 28: Malaysia's ex-leader Najib Razak was found guilty Tuesday in his first trial over the multi-billion-dollar 1MDB scandal, two years after the fraud contributed to the downfall of his long-ruling government.

The former prime minister could now face decades in jail after being convicted on all charges in the case related to the looting of sovereign wealth fund 1Malaysia Development Berhad.

Billions of dollars were stolen from the investment vehicle and spent on everything from high-end real estate to pricey art, while investment bank Goldman Sachs also became embroiled in the scandal.

Anger at the looting played a large part in the shock loss of Najib's long-ruling coalition in elections in 2018, and he was arrested and hit with dozens of charges following his defeat.

The verdict was a test of Malaysia's rule of law. It comes about five months after Najib's scandal-plagued party returned to power as part of a coalition, development observers had feared could affect the outcome of the case.

About 16 months after it began, the Kuala Lumpur High Court delivered the verdict in Najib's first trial, which centred on the transfer of 42 million ringgit ($9.9 million) from a former 1MDB unit, SRC International, into his accounts.

Najib had vehemently denied wrongdoing.

But Judge Mohamad Nazlan Mohamad Ghazali took apart all the arguments put forward by his defence, and found him guilty on the seven charges he faced.

"In conclusion, after considering all the evidence in this trial, I find the prosecution has successfully proven the case," the judge told the court.

The charges were one of abuse of power, three of criminal breach of trust and three of money-laundering.

The counts of abuse of power and criminal breach of trust are punishable by up to 20 years in jail each, while the money-laundering charges are punishable by up to 15 years each.

Sentencing was not handed down straight away. The 67-year-old will likely appeal and he may not be sent to jail immediately. If his conviction is upheld, he will also be barred from political office for several years.

Najib had insisted he was ignorant of the transactions.

The defence team portrayed Najib as a victim and instead sought to paint financier Low Taek Jho, a key figure in the scandal who has been charged in the US and Malaysia, as the mastermind.

Low, whose whereabouts are unknown, maintains his innocence.

Prosecutors insisted Najib was in control of the 1MDB unit, SRC International.

The return of Najib's party to power as part of a coalition in March followed the collapse of Mahathir Mohamad's reformist administration.

Since then, 1MDB-linked charges were unexpectedly dropped against the ex-leader's stepson Riza Aziz, a producer of Hollywood movie "The Wolf of Wall Street", in exchange for him agreeing to return assets to Malaysia.

Prosecutors also dropped dozens of charges against Najib ally Musa Aman, the former leader of Sabah state.

The amounts involved in Najib's first case are small compared to those in his second and most significant trial, which centres on allegations he illicitly obtained more than $500 million.

Malaysia had charged Goldman Sachs and some current and former staff, claiming large amounts were stolen when the bank arranged bond issues for 1MDB.

But the two sides agreed to a $3.9 billion settlement last week in exchange for charges being dropped.

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News Network
April 23,2020

Geneva, Apr 23: The World Health Organisation (WHO) on Wednesday (local time) said that the COVID-19 crisis will not end any time soon, with several countries only in the initial stages of the fight against the virus.

"Make no mistake, we have a long way to go. Coronavirus will be with us for a long time. There is no question that stay at home orders and other physical distancing measures have successfully suppressed transmission in many countries," WHO chief Tedros Adhanom Ghebreyesus said in a press conference.

"Most countries are in the early stages of their epidemics. And some, which were affected early in the pandemic, are now starting to see a resurgence in the number of cases," he added.

COVID-19 has infected more than 2.6 million people around the world and a total of 1,83,027 people have died due to coronavirus, according to data from US-based Johns Hopkins University.

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News Network
February 6,2020

Beijing, Feb 6: The number of confirmed fatalities from China's coronavirus outbreak rose to at least 560, after authorities in hardest-hit Hubei province reported 70 new deaths on February 6.

In its daily update, the health commission in Hubei also confirmed the number of confirmed infections in the outbreak has reached 28,018 nationwide with 3,694 new cases reported.

The epidemic, which has spiralled into a global health emergency, is believed to have emerged in December from a market that sold wild game in Hubei's capital Wuhan.

Hu Lishan, an official in Wuhan, warned Wednesday that despite building a hospital from scratch and converting public buildings to accommodate thousands of extra patients, there was still a "severe" lack of beds in the region.

There was also a shortage of "equipment and materials," he told reporters, adding that officials were looking to convert other hotels and schools in the city into treatment centres.

Authorities in several other cities in China have placed restrictions on the number of people allowed to leave their homes.

Global concerns have also risen about the virus, with cases confirmed in more than 20 countries.

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Agencies
June 16,2020

Washington, Jun 16: The United States will reduce its troop strength in Germany from the nearly 52,000 at present to 25,000, President Donald Trump has said in Washington.

In an interaction with reporters at the White House on Monday, Trump attributed the move to high costs and Germany being "delinquent" in its payment to NATO.

"We have 52,000 soldiers in Germany. That's a tremendous amount of soldiers. It's a tremendous cost to the United States and Germany, as you know, is very delinquent in their payments to NATO.

"They are paying one per cent and they're supposed to be a two per cent. And then two percent is very low. It should be much more than that. So they are delinquent of billions of dollars," Trump alleged.

"So, we're putting the number down to 25,000 soldiers. We'll see what happens, but Germany has not been making payments. In addition to that, I was the one that brought it up. Everybody talks about Trump with Russia. Well, I brought this up a long time ago. Why is Germany paying Russia billions of dollars for energy and then we're supposed to protect Germany from Russia? How does that work? It doesn't work," the US president said.

US soldiers, he said, are paid well. "They live in Germany. They spend vast amounts of money in Germany. Everywhere around those bases is very prosperous for Germany. So, Germany takes. And then on top of it, they treat us very badly on trade. We have trade with the EU, Germany being the biggest member, and very, very badly on trade and we are negotiating with them on that. But right now, I'm not satisfied with the deal they want to make," Trump said.

"They've cost the United States hundreds of billions of dollars over the years on trade," he said.

The US protects them and then they take advantage of America on trade, the president said.

"So we are working on a deal with them, but it's very unfair and I would say by far, the worst abuser is Germany," he said.

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