AFP, Kuala Lumpur :
Malaysian prosecutors Tuesday wrapped up the first of several cases against toppled leader Najib Razak over the plundering of 1MDB, a day before the start of his main trial linked to the scandal-hit fund.
With the prosecution now finished, a judge will hear arguments from both sides in October and rule on November 11 whether the case is strong enough to continue. If he rules it is, Najib will likely begin his defence in December. The former prime minister, his family members and inner circle are accused of stealing billions of dollars from the sovereign wealth fund 1MDB in a fraud that stretched around the world.
The claims played a major part in Najib’s government losing power at elections last year. He was arrested after being ejected from office, and went on trial in April.
The current trial is the first of several that Najib is expected to face over 1MDB, and centres on claims that 42 million ringgit ($10 million) was stolen from SRC International, a former unit of the fund.
The prosecution called 57 witnesses during the first stage of the trial and the court heard evidence about the lavish lifestyle enjoyed by Najib and his widely reviled wife, Rosmah Mansor, after allegedly looting state coffers.
Najib has denied all charges.
The 66-year-old’s biggest trial over 1MDB will begin Wednesday, centring on allegations that hundreds of millions of dollars linked to the fund were transferred to his bank account.
Najib, 65, denies wrongdoing and accuses Prime Minister Mahathir Mohamad’s government of seeking political vengeance.
The seven charges in his first trial specifically relate to the suspicious transfer of 42 million ringgit ($10 million) from SRC International, a former 1MDB unit, into Najib’s bank accounts via intermediary companies between 2011 and 2015. Najib is accused of using his position to receive the money for approving a government guarantee for a government loan to SRC, committing criminal breach of trust and accepting proceeds from unlawful activities.
His lawyers say Najib is the victim of a conspiracy by rogue bankers including one identified by U.S. investigators as the mastermind behind the 1MDB fiasco.
Prosecutors say Najib, who set up 1MDB in 2009, was the real power behind the fund and SRC.
In his second trial due to begin Wednesday, Najib faces four counts of abusing his power to receive a total of 2.3 billion ringgit ($547 million) from 2011 to 2014, and 21 other charges of receiving, using, and transferring illicit funds linked to 1MDB.
The trial could be delayed again as the defence is challenging the government’s appointment of a former senior judge as the chief prosecutor in the case.
Najib set up 1MDB when he took power in 2009 to promote economic development, but the fund amassed billions in debts and is being investigated in the United States and several other countries for alleged cross-border embezzlement and money laundering.
