Photo: Former Malaysia prime minister Najib Razak at the Kuala Lumpur High Court on July 21, 2020. Yuri Abas/Shutterstock

Islamic Finance

Malaysia's former PM Najib Razak sentenced to 72 years in jail, 210 mln ringgit in fines

The High Court in Kuala Lumpur has sentenced former Malaysian prime minister Najib Razak to 72 years in jail and fined him 210 million ringgit ($49.38 million) after finding him guilty on all graft charges linked to state fund 1MDB.

Razak will only serve twelve years in jail as the High Court judge ordered all sentences to run concurrently, according to state news agency Bernama.

The former PM was earlier in the day found guilty on three counts of criminal breach of trust, three counts of money laundering and one count of abuse of position.

The charges involved the transfer of 42 million ringgit ($9.9million) from former 1MDB unit SRC International into Razak's personal bank accounts in 2014 and 2015. 

Razak was sentenced to ten years jail on each of the three cases of criminal breach of trust and each of the three cases of money laundering, and 12 years jail and a fine of 210 million ringgit, in default of five years jail, in the case of abuse of position.

Najib Razak served as Malaysia's prime minister from 2009 to 2018.

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