Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Malaysia's ex-PM Najib fails in bid to admit new evidence in final 1MDB appeal

Published 08/16/2022, 04:59 AM
Updated 08/16/2022, 05:40 AM
© Reuters. Former Malaysian Prime Minister Najib Razak attends a news conference at the Federal Court in Putrajaya, Malaysia August 16, 2022. REUTERS/Hasnoor Hussain

By Rozanna Latiff

PUTRAJAYA, Malaysia (Reuters) - Malaysia's top court on Tuesday denied a request by former Prime Minister Najib Razak to introduce new evidence in his final appeal against a 12-year jail sentence for a case linked to the multibillion-dollar 1MDB financial scandal.

Najib, 69, faces dozens of charges over the alleged theft of $4.5 billion from 1MDB, a state fund he co-founded as premier in 2009, in a wide-ranging scandal that has ensnared high-ranking officials and financial institutions stretching from Hollywood to the Middle East.

In the first of several trials, he was convicted in July 2020 for criminal breach of trust, abuse of power, and money laundering, for illegally receiving about $10 million from SRC international, a former unit of state fund 1Malaysia Development Berhad (1MDB). An appeals court upheld the verdict last year.

Najib, who has pleaded not guilty to all charges, replaced his legal team just three weeks before his final appeal at the Federal Court began Monday. Out on bail pending the hearings, he could become the country's first prime minister, former or sitting, to be jailed if the appeal fails.

Defence lawyers had asked the court to admit new evidence that they said would prove that the trial judge who convicted Najib had a conflict of interest, owing to his previous employment at a bank that had conducted business with 1MDB.

In a unanimous judgment, the five-member court on Tuesday rejected the motion, finding that the evidence sought had either been publicly available or could have been obtained with reasonable diligence during the trial.

"The entirety of the additional evidence sought to be introduced is, in our view, irrelevant to the charges proffered against the applicant and fails to disclose any conflict of interest," Chief Justice Tengku Maimun Tuan Mat said.

The court also denied a request by Najib's newly-appointed lawyers for a three- to four-month postponement, to fully prepare their arguments given the complexity of the case.

Najib told reporters after the hearing he was "shocked and disappointed" by the judges' ruling, but remained hopeful that he would eventually be exonerated.

© Reuters. Former Malaysian Prime Minister Najib Razak attends a news conference at the Federal Court in Putrajaya, Malaysia August 16, 2022. REUTERS/Hasnoor Hussain

The ex-premier has previously cited 94 reasons why he should be acquitted, including that lower courts had erred in some of their findings, documents submitted before the appeal showed.

The hearing resumes on Thursday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.