Malaysian ex-PM ordered to repay $1.3bn to looted fund - News Summed Up

Malaysian ex-PM ordered to repay $1.3bn to looted fund


(Photo: Reuters)KUALA ​LUMPUR - ⁠A ⁠Malaysian court on Tuesday ​ordered jailed former prime minister Najib Razak to ​pay $1.3 billion to a ‌former unit of the scandal-tainted state fund 1MDB, state media reported. High Court judge Ahmad Fairuz Zainol Abidin ruled that Najib ‌breached his fiduciary duties, abused his position as prime minister, and misappropriated SRC funds for personal gain, Bernama reported. Lim Chee ⁠Wee, the lawyer representing SRC, confirmed the Bernama report but declined further comment on the ruling. Najib would appeal the ruling, his lawyer Muhammad Shafee Abdullah said, according to Bernama. Malaysian and US investigators ⁠say at least $4.5 billion was stolen from 1MDB, a state fund that Najib co-founded in 2009 during the first of his nine years in power in ⁠the country.


Source: Bangkok Post March 31, 2026 11:03 UTC



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