By Jailed former Malaysian Prime Minister Najib Razak issued an unusual apology Thursday over the embezzlement of billions of dollars from the 1Malaysia Development Berhad (1MDB) state fund “under my watch,” while maintaining his innocence in the scandal.
Najib, who established 1MDB shortly after taking office in 2009, said in a statement that it “pains me every day to know that the 1MDB debacle happened under my watch” and offered an unreserved apology to the Malaysian people. However, he added that he was “still in deep shock knowing now the extent of the wretched and unconscionable shenanigans, and illegal things that happened in 1MDB.”
The former prime minister, who was defeated in the 2018 election and began serving time in 2022 after losing his final appeal in his first graft case, acknowledged that he should have “acted differently” but claimed he was misled. Najib also reiterated that he did not collaborate with Malaysian fugitive financier Low Taek Jho, identified by investigators as the mastermind behind the pilfering of the fund.
Investigators allege that more than $4.5 billion was stolen from 1MDB and laundered by Najib’s associates to finance Hollywood films and extravagant purchases. Najib argued that being held legally responsible for things he did not initiate or knowingly enable is unfair and expressed hope that the judicial process will ultimately prove his innocence.
The apology comes ahead of a crucial court decision on Wednesday that will either acquit Najib or order him to enter his defense in his second main graft trial. In this trial, Najib faces four charges of abusing his power to obtain over $700 million from 1MDB and 21 charges of money laundering involving the same amount.
Prosecutors allege that Najib embezzled billions of dollars from 1MDB through an “elaborate charade” and then sought to cover his tracks, while Najib maintains that he was fooled into believing it was a donation from the Saudi Arabian royal family.
Najib faces up to 20 years in prison for each count of abuse of power and up to five years for each of the money laundering charges. He also has a pending case involving a criminal breach of trust and another money laundering trial. His wife and other senior government officials are also facing corruption charges related to the 1MDB scandal.
The 1MDB scandal has prompted investigations in the United States and several other countries, with the embezzlement of state funds under Najib’s watch being a major factor in his political downfall and subsequent legal troubles.
