Financial scandal, former Malaysian Prime Minister Najib apologizes

Last Updated on October 28, 2024 5:03 am

Former Prime Minister Najib Razak has apologized to the nation over the billion-dollar financial scandal at Malaysia’s main development fund. Prime Minister Anwar Ibrahim welcomed Najib’s apology.

He welcomed it in a statement on Friday. Najib is currently in prison for diverting money from state funds.

Accepting responsibility for his failures on October 24, Najib Razak claimed that he did not start the scandal or that he was its ‘mastermind’. The written statement was read out by his son Mohammad Nijar at the Kuala Lumpur courthouse. In the letter, Najib Razak said, “I am pained every day to know that the 1MDB (Malaysia’s main development fund) disaster occurred under my supervision as Prime Minister and Finance Minister. For this, I apologize unconditionally to the people of Malaysia.

In 2009, when he was prime minister, allegations arose that more than $4.5 billion was siphoned off from the country’s main development fund, One Malaysia Development Berhad. This included high-ranking officials and their associates. Evidence was found against Najib of taking $10 million from there.

Corruption investigations were conducted in at least six countries regarding this. Later, Najib was charged with breach of trust, abuse of power and money laundering.

In 2020, Najib was sentenced to 12 years in prison and fined 210 million ringgit. Later, a ‘pardon board’ chaired by the former king of Malaysia halved the sentence.

The Kuala Lumpur High Court will decide on Wednesday whether Najib will have to defend himself in the 1MDB corruption case that began five years ago.