The money laundering charges include receiving, using and transferring illicit funds
PUTRAJAYA: Former Prime Minister Datuk Seri Najib Razak was found guilty on all 21 money laundering counts linked to RM2.3 billion in 1MDB funds.
The money laundering counts include nine for receiving illicit funds, five for using them, and seven for transferring them.
The charges include:
• Receiving US$681 million (RM2.08 billion) from a 1MDB subsidiary, transferred from Tanore Finance Corporation’s account into Najib’s personal account ending 9694 across nine transactions between 22 March and 10 April 2013.
• Issuing five cheques totaling RM22.649 million between 2 and 14 August 2013, including RM20 million to Umno, RM100,000 to Umno Batu Kawan, and three cheques amounting to RM2.549 million for speechwriting and social media management services.
• Moving RM2.034 billion (US$620 million) in five separate transactions from Najib’s Account 9694 back to Tanore between 2 and 23 August 2013.
• Transferring RM161.41 million in two transactions from Najib’s Account 9694 to his newly opened personal AmIslamic Bank account (Account ending 1880) on 27 and 30 August 2013.Najib was found to have exploited his positions as prime minister, finance minister, and chairman of 1MDB’s board of advisers to obtain financial benefits totalling RM2.3 billion.
The High Court ruled that the defence had failed to raise reasonable doubt against the prosecution’s case.
The court is currently on a break and proceedings will resume for the submission of arguments on sentencing.
