Malaysia’s former prime minister, Najib Razak, has been found guilty of money laundering, abuse of power, and criminal breach of trust in connection with one of the biggest fraud scandals in history. Najib allegedly received hundreds of millions of dollars from a state investment fund he launched known as 1MDB. According to the Wall Street Journal, U.S. investigators estimate that at least $4.5 billion was stolen from the fund over five years. The money allegedly financed Hollywood movies, a luxury super-yacht, lavish real estate, jewelry and artworks. Najib had pleaded not guilty and has denied wrongdoing, but he was found guilty of all seven charges against him. Each charge carries a maximum prison sentence of 15 to 20 years. It’s alleged that Najib had a tight relationship with Jho Low, a Malaysian financier and the alleged mastermind of the fraud who used the money to fund his celebrity lifestyle. Low remains on the run.
