KUALA LUMPUR: Jailed former Malaysian Prime Minister Najib Razak issued a uncommon apology on Wednesday (Oct 23) for his mishandling of the multi-billion-dollar 1MDB monetary scandal, however maintained he had no information of unlawful transfers from the now-defunct state fund.
1Malaysia Development Berhad (1MDB), a sovereign wealth fund co-founded by Najib in 2009 whereas he was prime minister, has been investigated for corruption in not less than six nations over the alleged misappropriation of greater than $4.5 billion by senior officers of the fund and their associates.
Malaysia’s excessive courtroom in 2022 upheld a responsible verdict towards Najib on corruption and cash laundering fees for illegally receiving round $10 million from former 1MDB unit SRC International, sentencing him to 12 years in jail. The sentence was later halved by a pardon committee chaired by the previous king of Malaysia.
Najib, 71, has constantly denied wrongdoing and on Wednesday expressed regret over the 1MDB scandal in a letter learn at a information convention by his son, Mohamad Nizar Mohd Najib.
“It pains me day by day to know that the 1MDB debacle occurred on my watch as finance minister and prime minister,” the previous prime minister stated, in response to the letter.
“For this, I wish to apologize unreservedly to the Malaysian folks.”
Najib stated that as he launched investigations into 1MDB, he ought to have acted otherwise when questions on its dealings arose, including that his considerations on the time have been about its funds and the diplomatic dangers posed by the scandal.
Malaysian anti-corruption investigators had beforehand stated their investigations into 1MDB throughout Najib’s tenure had been stalled, with witnesses disappearing and loss of life threats towards them.
