The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

First judgment on 1MDB and Najib: Who knew what and when?

Najib Razak’s 12-year sentence on corruption charges is a landmark for Malaysia. But he also tried to drag in former Bank Negara Malaysia governor Zeti Akhtar Aziz and AmBank managing director Cheah Teck Kuang.

Chris Wright on Asia 1920px.jpg

This week former Malaysian prime minister Najib Razak was sentenced to 12 years in jail after being found guilty on seven corruption counts associated with 1MDB in the Kuala Lumpur High Court. He was also fined RM210 million ($49 million).

The transcript of judge Mohamad Nazlan Mohama Ghazali explaining his judgement has become available and will be of interest to several key financial figures in Malaysia – but not, for once, Goldman Sachs, which isn’t referenced in the 55-page judgment (this is only the first of potentially five trails related to Najib and 1MDB).

This trial focused on wrongdoing around a subsidiary of 1MDB called SRC International; it was alleged that transfers totaling RM42 million from SRC were placed into Najib’s account at AmIslamic Bank in 2014.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree