Najib's RM2.3b 1MDB trial scheduled today: What is it about?

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KUALA LUMPUR, Aug 19 — Former prime minister Datuk Seri Najib Razak is scheduled to go on trial today over massive sums of more than RM2 billion tied to the 1Malaysia Development Berhad (1MDB)...

KUALA LUMPUR, Aug 19 — Former prime minister Datuk Seri Najib Razak is scheduled to go on trial today over massive sums of more than RM2 billion tied to the 1Malaysia Development Berhad scandal, but it is not yet known if it will actually proceed.

Under the 1MDB trial, Najib is facing a total of 25 charges, namely four counts of abusing his position for his own financial benefit totalling almost RM2.3 billion and the resulting 21 counts of money-laundering.The four counts of alleged abuse of power under the Malaysian Anti-Corruption Commission Act 2009's Section 23 are in relation to a total of RM2,282,937,678.41 that Najib was alleged to have benefited from personally by using his position.

The penalty for this corruption offence of power abuse is a maximum jail term of 20 years, and a fine of RM10,000 or five times the value of the amount that the accused is said to have benefited from.As for the 21 money-laundering charges that arise from the corruption charges, Najib is accused of having committed these offences by having dealt with illicit funds or money that are proceeds from unlawful activities.

Najib's SRC trial involves a total of seven charges of abuse of power, criminal breach of trust and money-laundering in relation to RM42 million of 1MDB's former subsidiary SRC International Sdn Bhd.

 

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