Malaysian ex-leader Najib takes stand in 1MDB trial

The high court judge last month said Najib Razak wielded ‘overarching authority and power’ and took actions for personal gains. (File/Reuters)
Updated 03 December 2019

Malaysian ex-leader Najib takes stand in 1MDB trial

  • Najib is defending himself against seven charges of abuse of power, breach of trust and money laundering

KUALA LUMPUR: Former Malaysian prime minister Najib Razak was a “victim” of the multi-million dollar 1MDB scandal that saw state coffers drained on his watch, his lawyer said Tuesday, as the ex-premier gave evidence in his own fraud trial.

Huge sums were stolen from sovereign wealth fund 1Malaysia Development Berhad, allegedly by the ex-prime minister and his cronies, and spent on everything from high-end real estate to artwork.

Najib’s coalition was ousted at the polls last year after six decades in power, largely due to public anger over the scandal.

He has since been arrested and hit with dozens of charges linked to the looting of the investment vehicle.

“Najib is not part of the conspiracy. He is a victim as much as others in the 1MDB scandal,” his lawyer Muhammad Shafee Adbullah told reporters.

“The leader of the pack is Jho Low,” he said, referring to fugitive Malaysian financier Low Taek Jho, a member of Najib’s inner circle who allegedly masterminded the elaborate fraud that spanned from the United States to Switzerland, Dubai and Singapore.

“The crux of my defense is the entire scheme is designed by Jho Low,” Shafee added.

Najib, 66, went on trial in April over the controversy, in a case centered on the transfer of 42 million ringgit ($10.1 million) from former 1MDB unit SRC International into his bank accounts.

The former leader arrived at the court on Tuesday wearing a blue suit and held a brief Muslim prayer with supporters at the building’s steps.

Defense proceedings began with Najib giving testimony under oath. He will be cross-examined by prosecutors and is expected to be on the witness stand for around four days.

He began his testimony reading from a 243-page statement, recalling his long career in politics and ministerial posts he held since 1978, including the post of finance minister, and giving lengthy backgrounds on the setting up of 1MDB and SRC.

Defense lawyers had earlier said it would take two days for him to read the entire statement, but as his testimony went on, it appeared it would take longer.

Najib also sought to distance himself from Low, while his lawyer claimed the ex-leader was led astray.

“Jho Low has misled many people. Najib is one of them,” Shafee said.

Najib is facing four charges of corruption and three counts of money-laundering in the trial. Each charge of corruption carries a maximum jail term of 20 years, and each money-laundering count is punishable by a term of up to 15 years.

Prosecutors have argued that Najib wielded huge influence over the unit and knew that stolen money was being funneled from it into his accounts.

But in an opening statement in court before Najib took the stand, defense lawyer Shafee said they will prove that Najib “did not misappropriate funds... either directly or indirectly” and “did not act dishonestly.”

The amount transferred to his account “was done without his knowledge or involvement” as the transactions “were being manipulated by third parties without his knowledge and approval,” Shafee said.

“Ultimately, we will pray for an order that (Najib) be acquitted and discharged of all seven charges,” he said.

The case is one of several 1MDB-linked trials investigating Najib’s conduct. The biggest opened in August, centering on allegations he illicitly obtained over $500 million from the fund.

US authorities, who are also investigating the fraud as money was allegedly laundered through the American financial system, believe $4.5 billion was looted from the fund.


EU agrees first COVID-19 vaccine deal with AstraZeneca in WHO blow

Updated 58 min 11 sec ago

EU agrees first COVID-19 vaccine deal with AstraZeneca in WHO blow

  • The EU said over the past two weeks it was in advanced talks with Johnson & Johnson and Sanofi for their vaccines under development
  • The EU agreement follows an initial deal with AstraZeneca reached in June by Europe’s Inclusive Vaccines Alliance

BRUSSELS: The European Union has agreed to buy at least 300 million doses of AstraZeneca’s potential COVID-19 vaccine in its first such advance purchase deal, which could weaken plans led by the World Health Organization for a global approach.
The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal included an option to purchase 100 million additional doses from the British drugmaker should its vaccine prove safe and effective.
The EU’s bilateral deal mirrors moves by the United States and other wealthy states, some of which are critical of the WHO’s initiative, and further reduces the potentially available stock in the race to secure effective COVID-19 vaccines.
The EU agreement follows an initial deal with AstraZeneca reached in June by Europe’s Inclusive Vaccines Alliance (IVA), a group formed by France, Germany, Italy and the Netherlands to secure vaccine doses for all member states.
The Commission did not disclose the terms of the new deal and declined to say whether it had replaced the IVA’s.
“This new agreement will give all EU member states the option to access the vaccine in an equitable manner at no profit during the pandemic,” AstraZeneca said in a statement.
The EU executive said its deals are aimed at financing part of the upfront costs to develop vaccines. The funding would be partial down-payments to secure the shots, but actual purchases would be decided at a later stage by each EU state.
The EU said over the past two weeks it was in advanced talks with Johnson & Johnson and Sanofi for their vaccines under development .
The EU move could make more difficult efforts led by the WHO and GAVI, a global alliance for vaccines, to buy shots on behalf of rich and developing countries with a separate scheme.
The Commission has urged EU states to shun the WHO-led initiative because it sees it as too expensive and slow, EU officials told Reuters in July.
Now the Commission is openly saying that vaccines bought from AstraZeneca, and from other vaccine makers, could be donated to poorer states, effectively taking on the very task that the WHO is pursuing with the so-called ACT-Accelerator Hub.
Brussels has publicly said that its purchasing scheme is complementary to the WHO’s, but in private told EU states that there may be legal issues if they joined the WHO program.