London Daily

Focus on the big picture.
Sunday, Oct 04, 2026

Top Officers Spent Millions In Malaysia's Big Corruption Case Involving Ex-PM

Top Officers Spent Millions In Malaysia's Big Corruption Case Involving Ex-PM

Najib Razak, the then-prime minister was a key figure in the plundering of the sovereign wealth fund 1Malaysia Development Berhad (1MDB).

Malaysia's extraordinary 1MDB corruption scandal allegedly saw top officials loot billions from state coffers and go on a worldwide spending spree -- buying a $250 million yacht, a Van Gogh painting, and financing a Hollywood blockbuster.

Najib Razak, the then-prime minister whose 12-year jail sentence was affirmed Tuesday by the country's highest court, was a key figure in the plundering of sovereign wealth fund 1Malaysia Development Berhad (1MDB).

He was convicted in July 2020 in his first corruption trial linked to the fraud and sentenced.

An appellate court last December rejected his appeal, prompting him to mount a final plea before the Federal Court, whose decision is final.

Chief Justice Maimun Tuan Mat issued a warrant of committal, which a lawyer said means Najib is going immediately to jail.

 What was 1MDB?


1MDB was a state investment fund which Najib launched in 2009 shortly after becoming prime minister.

Its portfolio included power plants and other energy assets in Malaysia and the Middle East, as well as real estate in Kuala Lumpur.

The fund was closely overseen by Najib.

Whistleblowers say Low Taek Jho, a jet-setting Malaysian financier close to Najib but with no official position, helped set up 1MDB and made key financial decisions.

Concerns escalated in 2014 as 1MDB slid into an $11-billion debt hole, and intensifying public scrutiny revealed missing funds.

The scandal first came to light through the Sarawak Report news portal, and gained further traction in 2015 when The Wall Street Journal published documents showing Najib received at least $681 million in payments to his personal bank accounts.

 Lavish expenses


The US Justice Department launched its own probe after claims that stolen Malaysian public money was laundered through the US financial system, and has filed lawsuits seeking some $1.8 billion in assets allegedly purchased with the cash.

The department said more than $4.5 billion was stolen from 1MDB between 2009 and 2015 by high-level officials at the fund and their associates.

Tens of millions of dollars were used in 2012 by Najib's stepson Riza Aziz, an aspiring film producer, to fund the Hollywood film "The Wolf of Wall Street", starring Leonardo DiCaprio.

Hundreds of millions were also used, mainly by Riza and Low, to purchase high-end real estate in Beverly Hills, New York and London.

A Monet painting bought for $35 million, a Van Gogh for $5.5 million, a $35-million Bombardier jet, a $100-million stake in EMI Music Publishing, and a $250 million yacht were also ticked off the shopping list.

 Political turbulence


Najib, now aged 69, desperately sought to contain the scandal, targeting critics and introducing repressive laws.

But the allegations hit the popularity of his long-ruling coalition and contributed to a shock election defeat in 2018.

A new government headed by veteran politician Mahathir Mohamad, now aged 97, came to office on a wave of public anger, and re-opened investigations.

Najib was hit with dozens of charges.

But in February 2020, Mahathir's reformist alliance collapsed after bitter infighting, and a new coalition that included Najib's scandal-plagued party seized power.

There were concerns this could impact Najib's trials -- particularly after 1MDB-linked charges against Riza were unexpectedly dropped in May 2020.

 The trial


But those fears proved unfounded following his conviction of all seven charges.

That case centred on allegations that 42 million ringgit ($10 million) was transferred to the 67-year-old's bank accounts from SRC International, a former unit of the fund.

His lawyers insisted he had no knowledge of the transfers and claimed that Low was the true mastermind behind the scam.

But High Court Judge Mohamad Nazlan Mohamad Ghazali said the idea that Low had tricked Najib was "far-fetched", and also dismissed the argument the ex-leader believed the money in his account was a donation from Saudi royalty.

A five-judge Federal Court panel upheld that decision Tuesday, saying it found Najib's appeal "devoid of any merits" and ruled that the conviction and sentence were "safe".

"It is our unanimous view that the evidence led during the trial points overwhelmingly to guilt on all seven charges," Maimun said on behalf of the panel.

Najib is still facing more than 30 other 1MDB-related corruption charges, court records show.

Newsletter

Related Articles

0:00
0:00
Close
UK Police Release Six Iranian Nationals on Bail After RAF Fairford Security Alert
UK Business Confidence Falls as Energy Costs and Tax Uncertainty Rise
Cornwall Insight Warns UK Energy Bills Could Rise 16% in January
UK Introduces Zero VAT on Household Electricity Bills
UK 30-Year Gilt Yield Hits 6% as Bond Market Pressures Intensify
UK Introduces Stricter Subcontractor Checks and Expanded Trade Union Access
Green Party Proposes Three-Year Emergency Freeze on Private Rent Increases
UK Treasury Committee Seeks Tax Clarification Over Manchester City Investigation
Royal Marines Deploy to Faroe Islands for Northern European Security Exercise
UK Business Confidence Weakens as High Costs Delay Investment
UK GDP Growth Revised Up to 0.5% in Second Quarter
Bank of England Warns of Financial Stability Risks From Autonomous AI
UK Expands Early Prisoner Release Scheme to Ease Overcrowding
UK Records Worst Bluetongue Outbreak on Record Across Livestock Farms
UK Government Faces Shrinking Fiscal Headroom Ahead of October 28 Budget
UK 30-Year Gilt Yield Reaches 6% as Energy Shock Drives Borrowing Costs Higher
Church of England to Apologize for Role in Historical Forced Adoptions
UK Defence Ministry Investigates Historical Use of RAF Bases by Jeffrey Epstein
Scottish Housing Completions Fall to 11-Year Low
Welsh First Minister Calls for Expanded Devolution Settlement
UK Pledges £50 Million to Expand Domestic Military Drone Capabilities
UK Opens First Commercial Geothermal Plant in Cornwall
Green Party Wins Gorton and Denton By-Election as Labour Falls to Third
Prime Minister Andy Burnham Opens Review of UK-EU Relationship
UK Inflation Rises to 3.1%, Adding Pressure on Household Finances
UK Removes VAT From Domestic Electricity Bills to Ease Winter Energy Costs
Counterterrorism Police Arrest Sixth Suspect Over RAF Fairford Incident
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Chancellor John Healey Faces Tax and Pension Scrutiny Ahead of Autumn Budget
Metropolitan Police Apologise for Accidental Disclosure in High-Profile Investigation
UK Universities Report Record International Enrolment as Housing Pressure Grows
UK Logistics Firms Monitor Rhine Disruption as Low Water Threatens European Supply Chains
UK Food Industry Warns Inflation Could Approach 7%
UK Introduces Vaping Duty and Mandatory Retail Stamps
Scotland Raises Property Taxes and Expands Child Payment in Annual Budget
Greggs Plans Four Factory Closures With 740 Jobs at Risk
OECD Raises UK 2026 Growth Forecast to 1.1%
UK Inflation Rises to 3.1% as Bank of England Faces Rate Debate
Andy Burnham Criticises Brexit and Says Rejoining EU Single Market Remains an Option
UK Imposes New Sanctions on Russian Military Networks and Propagandists
UK Launches Nationwide Early-Release Prison Scheme
Andy Burnham Says Security Services See Signs of Iranian Involvement in RAF Fairford Incident
Manchester City Found Guilty on Premier League Financial Charges After Independent Investigation
Scottish Court to Rule on Bid to Force No-Confidence Vote Against Aberdeen Council Co-Leader
UK Bans Extra Charges for Seating Children Under 12 Beside Accompanying Adults
UK Introduces Vaping Duty and New Licensing Requirements
Greggs to Close Four UK Factories and Cut 740 Jobs
Hundreds of Prisoners Released Early as England and Wales Prisons Reach 98% Capacity
UK Unveils New Russia Sanctions Targeting War Funding and Shadow Fleet
Burnham Says There Are Strong Indications of Iranian Involvement in RAF Fairford Security Breach
×