New revelations from French financial prosecutors have suggested that former Malaysian Prime Minister Najib Razak played a preparatory role in a 2002 defence deal allegedly designed to funnel illicit payments. The findings, outlined in a confidential document reviewed by Bloomberg, claim that Najib met with executives from French defence companies to facilitate contracts tied to the US$1.2 billion submarine procurement. The deals, investigators asserted, were structured to channel funds to key Malaysian decision-makers.
This allegation is part of a broader investigation that has implicated French defence contractor Thales SA, DCN International (now part of Naval Group), and several individuals, including Najib’s former aide, Abdul Razak Baginda. While French prosecutors are not seeking a criminal trial for Najib, the document marks the first time they have formally stated his alleged involvement in orchestrating contract signings.
The French Justice Ministry has confirmed the recommendation for a trial against Abdul Razak and corporate entities, leaving the final decision to an investigating magistrate. Despite the absence of charges against Najib, the prosecutors suggested his position as Malaysia’s defence minister at the time made him central to the negotiation process.
The inquiry centers around payments made to Malaysian firms Perimekar Sdn Bhd and Terasasi Sdn Bhd—entities linked to Abdul Razak and his associates. Perimekar, which counted Abdul Razak’s wife among its shareholders, was contracted for support services. Meanwhile, Terasasi, later shifted to a Hong Kong registration, received funds under the guise of consultancy work.
According to the prosecutors, Najib and Abdul Razak engaged with DCNI executives in Paris as early as 2000, purportedly to arrange the submarine contracts. A letter discovered in DCNI's parent company safe—reportedly written by Jasbir Singh Chahl, a business associate of Abdul Razak—outlined a profit-sharing scheme in which Najib would receive a portion of the commissions for political purposes.
While Abdul Razak has denied all wrongdoing, Najib, who is currently serving a reduced sentence for a separate corruption case involving 1MDB, reiterated through his lawyer that he was not part of direct negotiations. He maintained that Abdul Razak acted independently in a private capacity.
As the Malaysian Anti-Corruption Commission (MACC) continues its domestic probe into the submarine purchase, the French findings have reignited scrutiny of Najib’s past, even as he campaigns to serve his remaining sentence under house arrest.
Information Source: The Edge
Kamran is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
The User Content (as defined on Newswav Terms of Use) above including the views expressed and media (pictures, videos, citations etc) were submitted & posted by the author. Newswav is solely an aggregation platform that hosts the User Content. If you have any questions about the content, copyright or other issues of the work, please contact creator@newswav.com.