Former Malaysian Prime Minister Datuk Seri Najib Razak has strongly dismissed allegations that he abused his position as the head of government to secure US$20 million from 1MDB funds. Testifying in his defense during his 1MDB trial, Najib expressed disbelief that anyone would think he would jeopardize his political career, built over four decades, for such a sum. As Malaysia’s prime minister and finance minister in 2011, Najib emphasized his status as the most powerful individual in the country at the time, calling the accusations against him both baseless and illogical.
The prosecution has accused Najib of instructing the 1MDB board to authorize a US$1 billion joint venture with PetroSaudi International Limited, claiming that this move allowed him to receive US$20 million. According to their argument, the money was transferred in two tranches of US$9,999,977 on February 24 and June 14, 2011, originating from US$700 million diverted from 1MDB’s joint venture funds in 2009 to a company controlled by fugitive financier Low Taek Jho, known as Jho Low.
Najib has consistently denied any involvement in the misappropriation of funds, challenging the prosecution’s evidence, which includes a money trail linking the US$20 million to his personal bank account. He described the money trail report as a distortion of facts and argued that the charges against him were absurd. Najib compared the relatively small sum he allegedly received to the vast amounts reportedly funneled to others involved in the scandal, including Jho Low, who is said to have received US$547 million, and PetroSaudi executives Tarek Obaid and Patrick Mahony, who allegedly obtained US$120 million and US$33 million, respectively.
Najib mocked the prosecution’s portrayal of him as a “self-sacrificing” conspirator who allowed others to enrich themselves with hundreds of millions while supposedly accepting only a fraction of the funds years later. Highlighting the lavish lifestyles of those implicated, Najib pointed out that Jho Low and Tarek Obaid used their gains to acquire multi-million-dollar properties, luxury items, and jewelry, while Patrick Mahony, as a company employee, still managed to receive tens of millions.
He further accused Low, Obaid, and Mahony of orchestrating an elaborate scheme to siphon off 1MDB’s US$700 million, asserting that he had no part in their fraudulent transactions. Najib referenced a recent decision by the Switzerland Federal Criminal Court, which convicted Obaid and Mahony for their roles in the US$1.8 billion 1MDB fraud, noting that the court made no mention of him as a participant or recipient of illicit funds.
Najib faces 25 charges in the 1MDB case, including four counts of power abuse for financial gain amounting to RM2.27 billion and 21 charges of money laundering involving over RM2 billion. The prosecution alleges that Najib and Jho Low acted as a unified force, with Low functioning as Najib’s alter ego. Najib, however, has dismissed these claims as desperate attempts to implicate him in a scheme he maintains he had no part in orchestrating.
Information Source: Malay Mail
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