• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
1MDB

Ex-PM Najib Razak loses final 1MDB scandal appeal after evidence ‘overwhelmingly points to guilt’

By
Philip J. Heijmans
Philip J. Heijmans
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Philip J. Heijmans
Philip J. Heijmans
and
Bloomberg
Bloomberg
Down Arrow Button Icon
August 23, 2022, 6:35 AM ET
Malaysia's former prime minister Najib Razak greets supporters outside court
Malaysia's former prime minister Najib Razak greets supporters as he walks out during a break in the trial Arif Kartono—AFP via Getty Images
Add Fortune on Google for similar content.

Former Malaysian premier Najib Razak lost his final appeal in a trial related to the multi-billion 1MDB scandal, raising the prospect of jail time for one of the country’s most powerful and influential politicians.

The decision prevents Najib, 69, from contesting in the next general elections that must be held by September 2023. He will go down in history as becoming the first prime minister in the Southeast Asian country to be convicted and imprisoned. 

The Federal court reaffirmed an earlier ruling that sentenced Najib to 12 years in prison in the case involving the transfer of 42 million ringgit ($9.4 million) belonging to SRC International to his personal bank account. The company is a former unit of 1MDB, an investment fund that had billions of dollars siphoned across the globe.  

Chief Justice Maimun Tuan Mat said the evidence shown overwhelmingly points to guilt on all seven charges. “These appeals are therefore unanimously dismissed and the conviction and sentence are affirmed,” she said when delivering the verdict of the five judge panel. 

Lawyers representing Najib asked for a stay on execution, which was rejected by the chief justice. 

Najib was impassive when the verdict was read out and his wife and two children immediately went to his side in the court. Earlier, he appealed to the panel of judges to give his defense team more time to prepare so that he can have his day in court. 

“The upshot of what I am asking is a mere 2 months postponement adjournment of the hearing of the appeal as opposed to my life and liberty being shortened by 12 years of imprisonment,” he said. 

Najib was first convicted in July 2020 on charges of abuse of power, money laundering and criminal breach of trust involving in the SRC case. The sentence, which includes a 210 million ringgit fine on top of the jail term, was maintained by the Court of Appeal in December, with a judge referring to Najib’s actions as a “national embarrassment.” 

He mounted a final appeal before the Federal Court while being out on bail. Najib has pleaded not guilty to all charges and has publicly maintained his innocence, saying he is a “victim of a scam.” 

Despite the successive court rulings against him, Najib successfully rehabilitated his image since his shock election defeat in 2018 by criticizing the economic policies of subsequent governments and recasting himself as the man of the people. 

These tactics have helped him retain significant influence in the United Malays National Organisation. Najib had gone on to lead UMNO to a series of state election victories, emboldening the party to push for early national polls. 

Anguish

The verdict against Najib will bring a sense of anguish for his supporters and could spur UMNO to rally its supporters for the federal elections, said Bridget Welsh, Honorary Research Associate with the University of Nottingham Asia Research Institute Malaysia. 

“It also opens up the way for new leadership and I think that’s part of what is happening in terms of this period of political transition,” Welsh said, referring to the party. “It’ll be very difficult in the short term for Najib to have as much political power as he’s wielded.”

The former leader could eventually get out by jail by seeking a pardon from Malaysia’s king in the same way current opposition leader Anwar Ibrahim was given one in 2018. 

Malaysia’s longest serving leader Mahathir Mohamad told Bloomberg News in an interview Monday that he saw a “50-50 chance” Najib would get the royal pardon, return to politics and aim again for the country’s top job.

Najib’s legal team is discussing the possibility of a judicial review of the final decision though legal experts have said that this may not succeed as the whole appeal process has been exhausted. 

“We are very sad because we lost the appeal,” Najib’s main lawyer, Hisyam Teh Poh Teik, told reporters after the verdict. “I’ll only say that we seek comfort and solace — in the words of a great Indian jurist who said that the almighty alone can dispense perfect justice.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Authors
By Philip J. Heijmans
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

p
RetailWorld Cup
The 2 billion-print, $2-pack last hurrah for a World Cup legend: the Panini sticker album’s last ride
By Dave Skretta and The Associated PressJune 27, 2026
35 minutes ago
‘I’ll listen to ‘Only the Young’ at home on my own’: Zohran doesn’t know about a Swift-Kelce wedding at MSG, but he’s not going
Arts & EntertainmentNew York City
‘I’ll listen to ‘Only the Young’ at home on my own’: Zohran doesn’t know about a Swift-Kelce wedding at MSG, but he’s not going
By Kimberlee Kruesi and The Associated PressJune 27, 2026
39 minutes ago
Australia to strengthen enforcement of under-16 social media ban
PoliticsSocial Media
Australia to strengthen enforcement of under-16 social media ban
By Ainslie Chandler and BloombergJune 27, 2026
42 minutes ago
g
EuropeGermany
It’s so hot in Germany the Autobahn literally burst open at the seams and had to be closed down
By Kirsten Grieshaber, Sylvia Hui, John Leicester and The Associated PressJune 27, 2026
42 minutes ago
Apple seeks U.S. approval to buy chips from blacklisted CXMT: FT
Big TechChips
Apple seeks U.S. approval to buy chips from blacklisted CXMT: FT
By Angela Cullen and BloombergJune 27, 2026
56 minutes ago
Atlanta Fed chief selection delay gives Warsh a say
BankingFederal Reserve
Atlanta Fed chief selection delay gives Warsh a say
By Jonnelle Marte, Saleha Mohsin and BloombergJune 27, 2026
1 hour ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
2 days ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
3 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 hours ago
Current price of oil as of June 26, 2026
Personal Finance
Current price of oil as of June 26, 2026
By Joseph HostetlerJune 26, 2026
1 day ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
1 day ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
Economy
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.