Sunday, October 25, 2020

No postponement, Najib’s 1MDB trial to start on Aug 19


Najib Razak’s long-awaited 1MDB trial for money laundering and abuse of power will run from Aug 19 to Nov 14, following the dismissal of the government’s application for a postponement in light of the ongoing SRC International case in which the former prime minister faces seven criminal charges.

High Court judge Collin Lawrence Sequerah said he was rejecting the application by Attorney-General Tommy Thomas as it was the third request to postpone the 1MDB case.

“The application is denied and the 1MDB trial will proceed as scheduled,” he said.

The SRC International case is scheduled to run until Aug 15. The prosecution has called 42 witnesses so far.

- Advertisement -

In the last proceeding before Sequerah on June 21, Thomas said the prosecution had 20 more witnesses to call before it could wrap up its case.

“The SRC trial is moving more slowly than we expected,” he said, adding that the 1MDB trial should be postponed to Oct 1.

Najib was slapped with 25 charges of money laundering and abuse of power last September over alleged 1MDB funds in his AmBank account.

He was accused of abusing his position to obtain RM2.28 billion in bribes in February 2011 and December 2014.

- Advertisement -

He was also said to have transferred the RM2.28 billion in illegal funds to his bank account, and to have subsequently used the money.

In the SRC International case, he is accused of abuse of power, money laundering and criminal breach of trust.


Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Latest News

This Week

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...

Crown Resorts chairman Helen Coonan admits casino ‘enabled’ money laundering

Crown Resorts chairman Helen Coonan has conceded the casino giant facilitated money laundering at its Melbourne casino, but blamed it on "ineptitude" rather than...

Spanish police arrests operator of Crypto Arbitrage firm Arbistar on fraud charges

The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization...

Former Malawi minister sentenced to six years in prison over passport corruption scandal

A court in Malawi’s capital Lilongwe on Thursday sentenced a former home minister to six years in prison after he was found guilty in...

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