MALAYSIA – Former Prime Minister Najib Razak has gone on trial for his role in a financial scandal that has sent shockwaves around the world.
He faces seven charges in the first of several criminal cases for accusing him of pocketing $681m (£522m) from the sovereign wealth fund 1MDB. Mr Najib denies any wrongdoing.
Malaysia’s economy was meant to boost through strategic investments but allegedly funded lavish lifestyles, a Hollywood film and a super-yacht. While the former prime minister faces several criminal cases, Wednesday’s trial is the first major trial in the scandal. Proceedings were originally set to begin on 12 February, but were delayed for related appeals to be heard.
Malaysia’s government has also filed criminal charges against Wall Street firm Goldman Sachs accusing the investment bank of defrauding investors by raising money for 1MDB.
The bank has denied all wrongdoing and said it would “vigorously defend the charges.”(BBC)
