PUTRAJAYA – In a significant development, former Malaysian Prime Minister Najib Razak was convicted on Friday, marking the end of a high-profile corruption trial linked to the massive embezzlement of the 1MDB state investment fund.

The High Court found 72-year-old Najib guilty on four charges of abuse of power, with further verdicts on additional money laundering charges expected later in the day.

Investigators revealed that Najib illicitly transferred over $700 million from the 1MDB fund into his personal accounts. Despite the mounting evidence, Najib continued to assert his innocence, claiming the funds were a political donation from Saudi Arabia and that he was deceived by rogue financiers, particularly Low Taek Jho, a key figure in the scandal who remains on the run.

Justice Collin Lawrence Sequerah dismissed Najib’s defense, labeling the Saudi donation narrative as “incapable of belief.” The judge highlighted that the evidence demonstrated the funds’ origins were directly from 1MDB, and not a Saudi source as Najib claimed. The letters supposedly from the Saudi donor were deemed forgeries.

Furthermore, Justice Sequerah rejected the notion that Najib was a mere victim of deceit orchestrated by former 1MDB officials and Low. Testimonies during the trial revealed an “unmistakable bond” between Najib and Low, who was described as playing a crucial role as Najib’s proxy and facilitator in the intricate financial web of 1MDB.

The judge noted that Najib failed to take steps to verify the origin of the massive funds nor taken action against Low. Instead, Najib had used the money despite its suspicious origins and also taken steos to protect his position including removing the then attorney-general and anti-corruption chief investigating the case, he said.

“The accused was no country bumpkin,” Sequerah said. “Any attempt to paint the accused as an ignoramus who was hopelessly unaware of the misdeeds going around him must therefore, fail miserably.”

Najib, dressed in a blue suit, appeared calm and at times wrote in his notebook.

Najib, who served as prime minister from 2009 to 2018, currently is serving a prison sentence after being convicted in an earlier case linked to the 1MDB scandal, which led to his government’s defeat in 2018.

He was sentenced to 12 years in prison in 2020 for abuse of power, criminal breach of trust and money laundering involving 42 million ringgit ($10.3 million) channeled into his accounts from SRC International, a former unit of 1MDB.

He began his sentence in August 2022 after losing a final appeal, becoming Malaysia’s first former leader to be jailed. The Pardons Board, a body that advises rulers on granting clemency, halved his sentence and sharply reduced his fine in 2024.

Najib set up the 1MDB development fund shortly after taking office in 2009. He had chaired 1MDB’s advisory board and held veto power as finance minister while serving as prime minister.

The corruption case rippled across global markets and triggered investigations in the United States and other nations.

Between 2009 and 2014, top executives and associates of Najib looted over $4.5 billion from the fund, laundering it through countries including the U.S., Singapore and Switzerland, according to the U.S. Justice Department.

Authorities alleged the funds were used to finance Hollywood films and extravagant purchases including hotels, a luxury yacht, art and jewelry. Jeff Sessions, the U.S. attorney general at the time, called it “kleptocracy at its worst.”

The scandal also hit Wall Street, with Goldman Sachs facing billions in fines for its role in raising money for 1MDB.

The scion of a prominent political family, Najib was long seen as untouchable until public anger over 1MDB led to the 2018 election defeat of his ruling party, which had governed Malaysia since the country gained independence from Britain in 1957.

Earlier this week, Najib failed in his bid to serve his graft sentence under house arrest. Malaysia’s High Court ruled Monday that a rare royal order for home arrest issued by the nation’s former king was invalid because it was not made in accordance with constitutional requirements. Najib’s lawyer has said they plan to appeal.

Originally due for release in August 2028 after his sentence reduction, Najib now faces a longer stretch behind bars.

Najib’s wife, Rosmah Mansor, also was sentenced to 10 years in prison and a massive fine in 2022 in a separate graft case. She has been released on bail pending an appeal.