1MDB scandal: prosecution will show Najib Razak ‘acted as one’ with Jho Low to loot state fund
- Investigators say some US$4.5 billion dollars was looted in total from 1MDB, a sovereign wealth fund Najib founded soon after he became Malaysia’s PM
- The current trial – the second of five – involves 25 of the 42 total charges against Najib, focusing on multibillion-dollar bond sales and acquisitions
“In truth, Jho Low was the accused’s mirror image,” prosecutor Gopal Sri Ram said in his opening statement in the Kuala Lumpur court. “The prosecution will establish facts which will give rise to an irresistible inference that Jho Low and the accused acted as one at all material times.”
Gopal Sri Ram, whose appointment has been challenged by Najib via judicial review, said former prime minister exerted influence over the 1MDB board to “carry out certain abnormal transactions with undue haste”.
“The ultimate aim of the accused was to obtain gratification for himself. He succeeded in achieving that aim,” he said, claiming Najib employed an “elaborate charade” to cover his tracks.
Najib faces a total of 42 charges stemming from his role in the 1MDB scandal. Investigators say some US$4.5 billion dollars was looted in total from 1MDB, a sovereign wealth fund Najib founded soon after he took office as prime minister in 2009. The theft involves criminal activity in multiple jurisdictions including the United States, Switzerland and Singapore.