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THE High Court has found Datuk Seri Najib Razak guilty of all four charges of abuse of power in relation to the misappropriation of RM2.3 billion in 1Malaysia Development Bhd (1MDB) funds.
Federal Court judge Datuk Collin Lawrence Sequerah, who presided as the High Court judge, said the prosecution had proven its case beyond reasonable doubt.
The court found that Najib had failed to create doubt with regard to the first charge of abuse of power and used his roles as prime minister, finance minister and chairman of 1MDB's board of advisers to secure financial benefits totalling RM2.3 billion across four phases of the 1MDB scheme.
The court found that the 1MDB investment in a joint venture with PetroSaudi was illegal as there was no genuine investment made with funds transferred into Good Star, a company controlled by Low Taek Jho or Jho Low.
According to The Edge, the claim made by Najib that he had no control of 1MDB's transfer of funds to PetroSaudi later traced to his AmBank accounts was without merit, ruled Sequerah.
“Even if instructions were given to former 1MDB chief executive officer Datuk Shahrol Azral Ibrahim Halmi, the inference is that it was based on instructions given to him by Jho Low who was considered an agent of Najib.
“The instructions came from Jho Low in Najib's interests," Sequerah found.
He said Najib did not dispute nor query the massive amount of funds that entered his accounts and went ahead to spend it.
The second charge concerned 1MDB's acquisition of two independent power producers, namely Tanjong Energy Holdings Sdn Bhd and Mastika Lagenda Sdn Bhd.
The prosecution pointed to the acquisition’s non-transparent manner in which Ministry of Finance officials were kept in the dark. The judge said Najib had approved the transaction ahead of the 1MDB board.
"The accused had not rebutted the abuse of power charge in respect of the second charge and the court convicts the accused of the second charge," the judge concluded.
The third charge involved a 1MDB-Aabar Investment joint venture (ADMIC) intended to develop the Tun Razak Exchange (TRX) in Kuala Lumpur.
International Petroleum Investment Company guaranteed Aabar's investment, while the Ministry of Finance, led by Najib, guaranteed 1MDB's share. A US$ 3 billion loan was raised for the project, arranged by Goldman Sachs.
According to The Edge, Sequerah said all evidence taken as a whole showed Najib had an interest and that he had received gratification and has not rebutted the third charge and did not raise a reasonable doubt to the third charge.
The fourth abuse of power charge is with regard to the US$330 million loan from Deutsche Bank.
Sequerah says Najib admitted he had knowledge of the refinancing of the loan that same year.
"The accused's knowledge is evidence and he was aware of the US$250 million initially and had seized the opportunity to claim of missing SRC documents” even though no police report was lodged on the purportedly lost documents, Sequerah noted.
The judgment which began to be read at 9.17 am was paused at 12.15 pm, and resumed at 3pm.
If Najib is found guilty, the prosecution may seek for the prison sentences in this case to run separately from the jail term he is currently serving for misappropriation of RM42 million linked to SRC International Sdn Bhd.
Najib faces four charges of abusing his position for gratification under Section 23(1) of the Malaysian Anti-Corruption Commission Act (SPRM), punishable under Section 24(1) of the same law.
Each charge carries a potential maximum sentence of 20 years’ imprisonment and a fine of up to five times the value of the bribe or RM10,000, whichever is higher.
In addition, he faces 21 charges of money laundering under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFA), each carrying a maximum penalty of five years’ imprisonment, a fine of up to RM5 million, or both, if convicted.
The case marks one of the most closely watched legal battles in Malaysia’s history, with potential ramifications for Najib’s political future and ongoing efforts to recover misappropriated 1MDB funds. - December 26, 2025