Malaysia sets date for Najib Razak’s 1MDB corruption trial

The disgraced former prime minister faces charges relating to US$10 million found in his personal bank accounts

Prosecutors believe US$4.5 billion was siphoned out of the state investment fund and used to back Hollywood films and buy the superyacht Equanimity

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Malaysia’s former prime minister Najib Razak faces dozens of charges related to the 1MDB scandal. Photo: Reuters

Published: 7:45pm, 28 Mar 2019Updated: 10:15pm, 28 Mar 2019

The long-awaited corruption trial of Malaysia’s embattled former prime minister Najib Razak will start on Wednesday, Kuala Lumpur’s High Court has ruled.

The trial had been scheduled to begin last month, but was postponed twice due to procedural issues and appeals filed by Najib’s defence team. The High Court’s decision on Thursday came a day after the Federal Court ruled against an application to delay the trial.

Najib is accused of playing a key role in the financial scandal surrounding the troubled state investment firm 1Malaysia Development Berhad (1MDB).

Prosecutors believe US$4.5 billion was siphoned out of the fund and used to back Hollywood films, buy the superyacht the Equanimity, and purchase artwork by Picasso and Monet.

In next week’s trial, Najib faces seven charges linked to SRC International, a subsidiary of 1MDB. These relate to 42 million ringgit (US$10 million) which was found in his personal bank accounts – funds he claimed were from Middle Eastern donors – and comprise criminal breach of trust, money-laundering, and abuse of power.

Constitutional expert and lawyer Lim Wei Jiet expected the trial to now proceed as expected. “In light of the Federal Court’s ruling – which suggests that a criminal court does not have jurisdiction to grant stays pending appeal – it is unlikely that there will be any further delays,” he said.