Tuesday, October 20, 2020

Malaysia: Ex-PM Najib Razak’s 1MDB money laundering trial to commence on Aug 28


Former prime minister Datuk Seri Najib Razak’s 1Malaysia Development Bhd (1MDB) criminal trial will start on Aug 28, rules the High Court on Friday (Aug 23).

Justice Collin Lawrence Sequerah decided on the date after Najib’s counsel, Tan Sri Muhammad Shafee Abdullah, requested that the trial start on Sept 3 because the defence team needed time to prepare.

“Yesterday (Aug 22), we were served with another two volumes of documents,” said Shafee, adding that the defence would appreciate a later date, as it was already having difficulty with earlier documents.

“Ideally, it should start on Sept 3, but at worst end of next week.

- Advertisement -

“We ask that you use discretion and give us a bit more time for us to prepare,” he requested.

Related: Malaysia set to begin biggest 1MDB trial involving ex-PM Najib Razak

Prosecutor for the SRC International trial, Datuk V. Sithambaram, also said the prosecution needed time to conclude reexamination of the last witness.

Najib trial hears of money paid to write ‘objective’ news about his govtHe added that the defence was also still in the midst of cross-examining the witness.

Sequerah also asked lead Prosecutor for the 1MDB trial Datuk Seri Gopal Sri Ram on whether he could start on Aug 28.

- Advertisement -

“Wednesday (Aug 28) morning, we can open our case; we have six formal witnesses,” said Gopal.

Najib, 66, faces 25 charges – four for abuse of power that allegedly brought him financial benefit to the tune of RM2.3bil; and 21 for money laundering involving the same amount of money.

Related: 1MDB Corruption: Malaysia ex-PM, Najib Razak faces court in global financial scandal

Najib was charged for the four abuse of power charges under Section 23(1) of the Malaysian Anti-Corruption Commission (MACC) Act, punishable under Section 24 (1) of the same law.

He faces imprisonment of up to 20 years and a fine of up to five times the sum, or value of the gratification or RM10,000, whichever is higher, if found guilty.

He was alleged to have committed the offences at the Jalan Raja Chulan branch of AmIslamic Bank Bhd, at 55, Jalan Raja Chulan, Bukit Ceylon here between Feb 24,2011 and Dec 19,2014.

For the 21 money-laundering charges, Najib was charged under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act (Amlatfa), which carries a maximum fine of RM5mil and a jail term of five years, or both, if convicted.

He is alleged to have committed the offences at the same bank between March 22,2013 and Aug 30,2013.


Goldman to pay over $2 billion in DOJ’s 1MDB Probe

Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s...

Ex-managers of Security firm pleads guilty in Santa Clara County concealed gun permit bribery scandal

Two former managers of a Silicon Valley international security firm pleaded guilty Monday to charges related to a bribery scheme to obtain concealed firearms...

Ohio former House Speaker Larry Householder to stand for reelection amid bribery charges

Republican Rep. Larry Householder’s name will be on the ballot Election Day as the disgraced Ohio lawmaker intends to serve his district for another...

Billionaire Robert Smith to Pay $140 million after admitting to tax evasion

Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax...

Mexico’s ex-army chief arrested in US on charges of drug trafficking, money laundering

Former Mexican Defense Secretary Gen. Salvador Cienfuegos, who led the country’s armed forces for six years under then-President Enrique Peña Nieto, has been arrested...

Latest News

This Week

Medical device maker Merit Medical agrees to pay $18m to settle false claims

Medical device maker Merit Medical Systems Inc. (MMSI), of South Jordan, Utah, has agreed to pay $18 million to resolve allegations that the company...

N.J consultant admits to bribing former assemblyman Willis Edwards

Federal authorities said a Union County consultant admitted Wednesday to making "corrupt payments" to an Orange Township public official as a reward for that...

Attorney General Dave Yost subpoenaed in Ohio bribery scandal

Federal officials investigating the House Bill 6 bribery scandal subpoenaed records from Attorney General Dave Yost’s office the day before arresting then-House Speaker Larry Householder and...

Parent company of world’s largest meatpacker plead guilty in bribery case, fined $280 million

The owner of the world's largest meatpacker pleaded guilty in U.S. federal court on Wednesday to paying nearly $180 million in bribes to top...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks