1mdb

The verdict is a test of Malaysia's rule of law. It comes about five months after Najib's scandal-plagued party returned to power as part of a coalition, a development observers fear could affect the outcome of his cases. … [Read more...] about Malaysian court to deliver verdict in Najib’s first 1MDB trial

Hanoi (VNA) - A Malaysian court on July 22 ordered former Prime Minister Najib Razak, related to the 1Malaysia Development Berhad (1MDB) fund, to settle 1.69 billion ringgit (397.41 million USD) in unpaid taxes over seven years while he was still in office, the National News Agency Bernama of Malaysia reported. Bernama quoted High Court judge Ahmad Bache as saying that former premiers are not exempt from paying tax and that Najib must pay his "debt" to the government. Previously, in June, Malaysian tax authorities filed a suit to recover unpaid taxes accumulated by Najib between 2011 and 2017, plus penalties and interest. A separate court will deliver its verdict in a case against Najib on July 28, the first of several corruption trials he faces linked to the 1MDB scandal. Najib served as prime minister from 2009 to 2018. He founded the 1MDB in 2009 with the aim of boosting the country’s socio-economic development. Malaysian and American investigators believe that the fund … [Read more...] about Malaysian ex-PM ordered to pay nearly 400-mln-USD tax bill

Kuala Lumpur (VNA) - Former Malaysian prime minister Najib Razak was found guilty of all seven charges in his first corruption trial on July 28 involving millions of ringgit linked to state development fund 1Malaysia Development Berhad (1MDB).  High Court judge Mohamad Nazlan Mohamad Ghazali said that the prosecution has successfully proven its case beyond a reasonable doubt. “I therefore find the accused guilty and convict the accused on all seven charges,” he said. The 1MDB was formed by Najib Razak in 2009 for socio-economic development. Malaysian and US investigators held that the fund caused a loss of about 4.5 billion USD in the 2009-2015 period, while about 1 billion USD was sent to Najib’s personal bank accounts. Najib have been brought to the court since he lost all power. He faced 42 charges of money laundering and bribery. But he rejected all the charges and held that the accusations were of political purposes./. … [Read more...] about Malaysian court finds ex-PM guilty of corruption