The new trial was slated to begin immediately after the conclusion on Tuesday of the prosecution stage of the first trial involving 1MDB subsidiary SRC International.

In that case, the prosecution led by attorney general Tommy Thomas called 57 witnesses to the stand over 58 days.

Following oral submissions to be made by the defence and prosecution in October, Kuala Lumpur High Court Judge Mohd Nazlan bin Mohd Ghazali will announce his decision on November 11 on whether Najib needs to enter a defence for the SRC International case.

The latest trial is expected to last until November, with some 60 witnesses expected to take the stand.

Jho Low’s code name for Najib Razak was ‘Optimus Prime’

Investigators say some US$4.5 billion dollars was looted in total from 1 Malaysia Development Berhad, a sovereign wealth fund Najib founded in 2009, soon after he took office as prime minister.

Apart from Najib, two men who are currently fugitives – businessman Jho Low and corporate executive Ariff Kamil Nik Faisal – are viewed by prosecutors as central players in the plunder.

The theft involves criminal activity in multiple jurisdictions including the United States, Switzerland and Singapore.

THE SAUDI LINK

Najib has long maintained that US$681 million found in his personal accounts – first made public in 2015 when he was in power – were political “donations” from a member of a Saudi royal family.

In the ongoing trial involving SRC International, an anti-corruption investigator testified that his agency’s probe found that some 642 million ringgit was transferred to Najib from accounts belonging to the Saudi Arabia’s Finance Ministry’s and the kingdom’s Prince Turki Faisal.

Zaid Ibrahim, a Najib-era law minister and former top lawyer, told This Week in Asia this particular piece of evidence, while unlikely to “exculpate him of the charges … is significant in that he was telling the truth about money coming from Saudi Arabia”.

“This assertion of his was laughed off as incredulous in those days,” said Zaid, who has emerged as a vocal critic of the Mahathir government since its victory over Najib last May.

Najib Razak spent US$800,000 on jewellery in one day. He says they were ‘gifts’

Zaid briefly served in Najib’s cabinet, and later changed political affiliations and spent some time in the now-ruling Pakatan Harapan coalition.

He said he believed Malaysians now regard Najib as “more believable”, after the initial period following the general election last May during which he faced widespread public disapproval and was booted as leader of his party, the United Malays National Organisation (Umno).

Said Zaid: “This means that he will have some political capital to trade to his supporters and those who are beginning to feel lethargic with the present government. It also means that he will have more ‘spirit’ to bring to this 1MDB trial.”

MAHATHIR’S WOES, NAJIB’S GAIN

Such sentiment was not isolated among Malaysia watchers.

Hugo Brennan, principal political analyst in Asia for the risk consultancy Verisk Maplecroft, said Najib’s long-standing narrative that he is a victim of a political witch hunt led by Mahathir – his former mentor – was resonating with his political base.

After his initial fall from grace – involving police raids of his homes, revelations of the millions of dollars of jewellery, handbags and other apparel in the properties, along with multiple arrests and arraignments – Najib bounced back late last year with a public-relations campaign that painted him as an everyman Malaysian.

The drive saw Najib shed his patrician airs – he is the son of a revered ex-premier – and instead embrace kinship with the country’s infamous Mat Rempit [hell riders], embracing the slogan “malu apa bossku? [what’s there to be ashamed about, boss?].

Said Brennan: “Najib’s political influence looked done and dusted in the immediate aftermath of Pakatan Harapan’s historic election victory …[but] he has proven himself a consummate political operative by engineering an improbable – if fleeting – comeback.”

Asrul Hadi Abdullah Sani, a Malaysia analyst with the BowerGroupAsia political consultancy, cautioned against giving too much credit to Najib, however.

Also hurting Pakatan Harapan was infighting within the Parti Keadilan Rakyat, the biggest party in the coalition. It is led by Anwar Ibrahim, the prime minister-in-waiting.

These factors “have made it easier for Najib to gain support, especially among the Malays”, Asrul Hadi said.

EYES ON GOLDMAN SACHS

Goldman Sachs has been in the Mahathir government’s crosshairs over the 1MDB scandal for its role in raising US$6.5 billion of bonds for the tainted sovereign wealth fund.

Prosecutors in the Southeast Asian country say some US$2.7 billion of that amount was embezzled as part of the 1MDB scandal.

How Goldman’s top Hong Kong banker turned into 1MDB scandal’s mystery man

The Chinese conglomerate has said it is monitoring the situation, noting in a statement that Evans was a member of Goldman Sachs senior management before joining the Hangzhou-based company.

Goldman Sachs said the latest charges, like three other charges against entities linked to it last year, are “misdirected and will be vigorously defended”.

Malaysia has said it was seeking up to US$7.5 billion in reparations from the US bank.

Also likely to be parsed in the new trial are fresh details about Jho Low, widely believed to be the architect of the 1MDB theft.

In the SRC International trial, courtroom spectators were entertained by revelations about the cherubic businessman’s dealings with Najib.