CNBC: Former Malaysian PM Najib Razak sentenced to 12 years in jail, fined $50 million over 1MDB scandal
* Former Malaysian Prime Minister Najib Razak has been sentenced to 12 years in jail after being found guilty on all seven charges in a case linked to the multi-billion dollar financial scandal at state fund 1MDB.
* The charges include three counts of money laundering, three counts of criminal breach of trust and one count of abuse of power.
* The former prime minister faces dozens of other charges in four additional trials also related to the 1MDB scandal.
Former Malaysian Prime Minister Najib Razak on Tuesday was sentenced to 12 years in jail and handed a fine of 210 million ringgits ($49.3 million) over his involvement in the now infamous 1MDB scandal.
The 67-year-old was found guilty of all seven charges in the first of his five trials linked to the multi-billion dollar scandal at state fund 1MDB. Najib’s lawyers have asked for a stay of execution for the jail sentence.
Questions around the missing money from 1MDB helped contribute to the defeat of the political coalition he led in the 2018 general elections. Najib had allegedly illegally received funds in his personal bank accounts that can be traced to 1MDB.
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WNU Editor: Whatever hopes he had of making a comeback can now be safely said to be over.
More News On The Conviction Of Former Malaysian PM Najib Razak
Malaysian ex-PM Najib convicted on all charges in first 1MDB trial -- Reuters
Najib 1MDB trial: Malaysia’s former PM sentenced to 12 years in jail and fined US$49 million, crushing comeback hopes -- SCMP
Malaysia's former PM is sentenced to 12 years in jail and fined £38million after being found guilty in first trial over multi-billion-dollar 1MDB fraud scandal -- Daily Mail
1MDB scandal: Najib Razak handed 12-year jail sentence -- The Guardian
Former Malaysian Prime Minister Found Guilty Of Looting Sovereign Fund -- NPR
Former Malaysian PM Guilty On All Counts In Sweeping 1MDB Corruption Case; Sentenced To 12 Years In Prison -- Zero Hedge
Former Malaysian PM Najib Razak found guilty in 1MDB corruption trial -- Axios
People will opine all day long on what they think is a partisan issue and totally ignore equally import stories like the blog post above.
ReplyDeleteWhat happens in Malaysia affects us.
The top export categories (2-digit HS) in 2018 were: electrical machinery ($5.0 billion), machinery ($1.3 billion), aircraft ($1.1 billion), optical and medical instruments ($846 million), and plastics ($579 million).
U.S. total exports of agricultural products to Malaysia totaled $1.0 billion in 2018. Leading domestic export categories include: soybeans ($230 million), cotton ($106 million), dairy products ($101 million), prepared food ($94 million), and processed vegetables ($56 million).
https://ustr.gov/countries-regions/southeast-asia-pacific/malaysia#:~:text=The%20top%20import%20categories%20(2,totaled%20%24997%20million%20in%202018.