2024-02-02 12:55:46
Kuala Lumpur,
Malaysia’s Pardons Board announced today that it has halved the 12-year prison sentence of former Malaysian Prime Minister Najib Razak and reduced his fine after being convicted of corruption.
The pardon board said his fine would be reduced from 210 million ringgit ($44.5 million) to 50 million ringgit ($10.6 million). If the fine is not paid, the prison sentence will be increased by one year, according to the Malaysian Pardons Board report.
Najeeb was sentenced to 12 years in prison in connection with the 1MDB corruption case. Najeeb appealed against the sentence. The appeal was also dismissed and the conviction confirmed. Subsequently, he was imprisoned in August 2022.
Najeeb then filed a petition with the Amnesty Board seeking a commutation of the sentence. A parole board meeting presided over by the king approved the commutation of Najib’s sentence. With this, Najib will be released on August 23, 2028, the pardon board said.
Case details
1MDB is a development finance program that was established after Najib came to power in 2009. It is alleged that at least US$4.5 billion of this fund was diverted and laundered by Najib’s associates through bank accounts in the US and other countries. 700 million USD has been deposited into Najib’s bank account.
Najib was convicted in 2020 of charges related to the illegal receipt of $9.4 million from SRC International, which was part of the 1MDB scheme. In 2022, Najib’s wife was sentenced to 10 years in prison and fined 970 million ringgit. Najib’s wife is now out on bail.
Najib, who claims he was defrauded by the owner of a Malaysian financial institution believed to be the mastermind of the scandal, has maintained his innocence.
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