At Start Of 1MDB Trial, Prosecution Paint A Tale Of Excess And Abuse

www.oann.com | 8/28/2019 | Staff
Les7799 (Posted by) Level 3
KUALA LUMPUR (Reuters) – Malaysian prosecutors on Wednesday said former prime minister Najib Razak abused his power to cover up the theft of hundreds of millions of dollars from the state-fund 1MDB and used the fund for self gratification.

On the opening day of the biggest trial into the 1MDB financial scandal, prosecutor Gopal Sri Ram said Najib used his position to evade justice, especially after news of the scandal broke in July 2015.

Course - Investigation - Case - Scandal - Steps

“He interfered with the course of investigation of the case which has come to be known as the 1MDB scandal. He took active steps to effect a cover up of his criminal acts,” Gopal told the Kuala Lumpur High Court in his opening statement.

Malaysian and U.S. authorities allege that about $4.5 billion was misappropriated from 1Malaysia Development Berhad (1MDB), a state fund co-founded by Najib in 2009.

Najib - Power - Year - Anger - Scandal

Najib was voted out of power last year amid widespread public anger over the scandal, and has since been charged with 42 criminal offences linked to losses at 1MDB and other state entities. He has denied any wrongdoing and says the charges against him are politically motivated.

In his second trial on Wednesday, Najib faces 21 charges of money laundering and four charges of abuse of power for allegedly receiving illegal transfers of at least 2.3 billion ringgit ($550.8 million) between 2011 and 2014.

Prosecution - Najib

The prosecution said Najib used 1MDB as...
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