Malaysia has reduced the sentence of disgraced former Prime Minister Najib Razak, who was convicted and sentenced to 12 years in jail for corruption in the multibillion dollar 1MDB scandal.
Najib will be released in August 2028 and fines imposed on him reduced to 50 million ringgit ($10.59 million) from 210 million ringgit, the pardons board said.
He remains on trial in multiple cases related to 1Malaysia Development Berhad (1MDB), a state fund he established as prime minister to spur economic development but that investigators say was instead plundered to buy the Equanimity superyacht, high-end properties, and finance the production of the Wolf of Wall Street film starring Leonardo DiCaprio.
Investigators have said some $4.5bn was stolen, with hundreds of millions ending up in accounts linked to the former prime minister.
Najib was acquitted of audit tampering in connection with 1MDB, but has not shown any contrition for the scandal. He has sought to focus attention on Jho Low, the Malaysian financier who is accused of masterminding the scheme and is now a fugitive.
More to come…
