A Malaysian court pronounced former Prime Minister Najib Razak guilty in his first corruption trial over the multibillion-dollar looting of the 1MDB investment fund.
Goldman Sachs has reached a $3.9-billion settlement with Malaysia over the 1MDB sovereign wealth fund that was used to launder money.
Najib’s first trial began in April 2019 over seven charges related to the transfer of $9.8 million from SRC International, a former 1MDB unit, into his bank accounts through intermediary companies. Najib was accused of using his position to receive a bribe for approving a government guarantee for billions in loans to SRC, committing criminal breach of trust and accepting proceeds from unlawful activities.
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