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Former Malaysian prime minister found guilty of fraud #Malaysian #prime #minister #guilty #fraud

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Former Malaysian Prime Minister Najib Razak was found guilty on Friday of abusing his power to loot millions of dollars from the 1MDB sovereign wealth fund and launder the profits.

His sentencing, expected later Friday, will likely add to the six-year sentence he is already serving for a separate case linked to the now-defunct public investment vehicle.

Presiding Judge Collin Lawrence Sequerah convicted the 72-year-old former leader on all four counts of abuse of power, as well as all 21 counts of money laundering, involving about 2.28 billion ringgit ($554 million) from the fund.

Najib, dressed in a navy suit and white shirt, was seen looking down, slumped in his seat as the judge read the verdict.

While Najib, the son of one of the country’s founding fathers, was groomed for leadership from a young age, he experienced a dramatic fall from power as public anger mounted over the corruption scandal.

Since his election defeat in 2018, investigations under successive governments have ensnared him and his wife Rosmah Mansor in corruption allegations.

Prosecutors say Najib abused his positions as prime minister, finance minister and chairman of 1MDB’s advisory board to transfer large sums from the fund to his personal accounts more than a decade ago.

According to investigators, the fund’s profits were used to finance high-end real estate, a luxury yacht and valuable works of art.

– ‘Without merit’ –
Delivering his verdict on Friday morning, Judge Sequerah rejected several arguments from defense lawyers, including that Najib had been deceived by his close associate, mystery businessman Low Taek Jho, better known as Jho Low.

“The evidence clearly indicates that this was not a coincidence but a relationship in which Jho Low operated as a proxy or agent of the accused (Najib) in relation to the management of the affairs of 1MDB,” Sequerah said.

The defense argument that Najib was “misled and deceived by management and by Jho Low is without merit”, the judge said.

1Malaysia Development Berhad (1MDB) was a public investment fund launched by Najib in 2009, shortly after he became prime minister.

The whistleblowers said Jho Low, a well-connected Malaysian financier with no official role, helped set up the fund and made key financial decisions.

It is estimated that more than $4.5 billion was embezzled from 1MDB between 2009 and 2015 by the fund’s managers and associates, including Low, who is currently on the run.

Justice Sequerah also rejected claims that Middle Eastern donors were responsible for the money flowing into Najib’s accounts, calling it “a tale that surpasses even those from The Arabian Nights”.

The prosecution presented bank statements, testimony from more than 50 witnesses and documentary evidence.

Najib “presents himself as a victim of rogue subordinates, when in reality he was the most powerful decision maker,” deputy prosecutor Ahmad Akram Gharib told the court during closing arguments.

“The defendants exercised absolute financial, executive and political control,” he said.

– Bumpy image –

Najib’s lawyers have previously said the politician was unaware that 1MDB management was working hand-in-hand with Low to siphon large sums of money from the fund, ostensibly created to foster economic growth in Malaysia.

Najib’s lawyer, Muhammad Shafee Abdullah, told reporters last week that his client “never received a fair trial.”

He again blamed Low for the scandal, which triggered investigations in several countries, from Singapore to the United States, and tarnished Malaysia’s image abroad.

Najib has apologized for allowing the 1MDB scandal to occur during his time in office, but has always denied any wrongdoing, saying he knew nothing about the fund’s illegal transfers.

His legal battle was dealt a further blow on Monday after he lost his bid to serve the remainder of his current prison sentence at home rather than in Kajang Prison, outside Kuala Lumpur.

Each count of abuse of power carries a prison sentence of up to 20 years and a fine of up to five times the amount of the bribe.

AFP

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EAM S. Jaishankar to attend ex-Bangladesh PM Khaleda Zia’s fund in Dhaka tomorrow #EAM #Jaishankar #attend #exBangladesh #Khaleda #Zias #fund #Dhaka #tomorrow

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New Delhi: Foreign Minister S Jaishankar will attend the funeral of Bangladesh’s first woman Prime Minister Khaleda Zia on Wednesday, according to a foreign ministry statement.

“Foreign Minister Dr. S. Jaishankar will represent the Government and people of India at the funeral of Begum Khaleda Zia, former Prime Minister of Bangladesh and President of the Bangladesh Nationalist Party. He will therefore visit Dhaka on December 31, 2025,” the statement said.

Begum Khaleda Zia died today early morning at the age of 80, while undergoing treatment at Evercare Hospital in Dhaka.
According to a BNP statement on Facebook, Zia died around 6 a.m. (local time), shortly after the Fajr prayer. “Khaleda Zia died around 6 a.m., just after Fajr prayers,” the BNP statement said.

“We pray for the eternal peace of his soul and ask everyone to pray for his departed soul,” the text adds.


Zia was admitted to Evercare Hospital in the capital Dhaka on November 23 for a lung infection. The former prime minister has long suffered from various physical illnesses, including heart disease, diabetes, arthritis, liver cirrhosis and kidney complications, and earlier this month she was sent to London for advanced medical treatment for her illnesses.
Earlier, Prime Minister Narendra Modi expressed deep sadness over the demise of former Bangladesh Prime Minister and BNP Chairman, extending condolences to his family and the people of Bangladesh. In an article on

“Deeply saddened to learn of the death of former Prime Minister and BNP President Begum Khaleda Zia in Dhaka. Our deepest condolences to her family and all the people of Bangladesh. May the Almighty grant her family the fortitude to bear this tragic loss,” the Prime Minister said.

World leaders on Tuesday continued to express their condolences over the death of former Bangladesh Prime Minister and BNP chairwoman Begum Khaleda Zia, remembering her as a prominent democratic leader in her country.

Nepal’s Acting Prime Minister Sushila Karki said she was “deeply saddened” by the death of Khaleda Zia and offered condolences, on behalf of the government and people of Nepal, to her family and the people of Bangladesh.

“Begum Zia leaves behind a lifelong legacy of public service, with her enduring leadership marking a historic chapter in her country’s democratic journey,” Karki said in an article on



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Legacy of Leadership: Khaleda Zia’s Role in Bangladesh’s Democracy #Legacy #Leadership #Khaleda #Zias #Role #Bangladeshs #Democracy

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Khaleda Zia, a dominant figure in Bangladesh’s political landscape, played a pivotal role in the restoration of democracy after military rule. As the country’s first female prime minister, she played a crucial role in unifying the Bangladesh Nationalist Party (BNP) during turbulent times.

Despite significant contributions, Zia’s tenure was marked by complex relations between India and Bangladesh. Allegations of support for Northeast insurgents strained ties, particularly during his second term, when alliances with Jamaat-e-Islami drew criticism from India on security grounds.

Zia’s legacy is highlighted by his leadership in the peaceful transition from dictatorship. However, his passing leaves the BNP at a crossroads, with his son Tarique Rahman set to lead the party amid ongoing electoral challenges.

(With input from agencies.)



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MARKETS EUROPE/DAX is up slightly at target level #MARKETS #EUROPEDAX #slightly #target #level

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DJ MARKETS EUROPA/DAX is up slightly from the target level

DOW JONES–European stock markets are higher Tuesday afternoon. There is little news and most investors are no longer active as the start of the year approaches. We cannot exclude the so-called “window dressing” of individual stocks, i.e. the targeted maintenance of prices in the portfolios of institutional investors. On some exchanges, trading is shortened only on Tuesdays. Trading in Germany and Austria ends at 2 p.m. THIS. While today is the last trading day of the year on some exchanges, shortened listings will take place on Wednesday in Lisbon, London, Madrid and Paris.

The DAX gained 0.5 percent to 24,476 points; the index is up 22 percent since the start of the year. The DAX can look back on an excellent year overall. “A closer look, however, shows that only the first half of the year was excellent for the DAX. The second half of the year was more of a sideways trend,” explains QC Partners. The MDAX is once again lagging and is up 19 percent year to date. The TecDAX has a meager yield of 5 percent. This continues the pattern of German blue-chip companies performing better in their international operations than German mid-sized companies. Whether this will change with Germany’s billion-dollar investment program remains to be seen.

The Euro-Stoxx-50 rose by 0.6 percent to 5,789 points. The majority of the year’s best-performing countries come from the South, where European economic growth was based last year. The Spanish stock market rose by 48 percent, while in Athens the index even rose by 50 percent.

On the foreign exchange market, the euro changes little, at $1.1769; During the year, the greenback lost a lot of value. This is unlikely to make it easier for European companies to sell more expensive products around the world due to the strength of the euro next year. Yields on the bond markets are up slightly. After the liquidation of the day before, precious metals are recovering. The price of gold rose 1.2 percent to $4,385, silver rose 3.8 percent to $74.90. Not surprisingly, European mining stocks were one of the day’s winners, rising 1.6 percent. Shares of silver producer Fresnillo rose 5.5 percent.

The geopolitical situation remains tense. US President Donald Trump has threatened Iran with a military strike if the country resumes its nuclear program. Meanwhile, Hamas was threatened with serious consequences if the terrorist organization did not lay down its arms. Finally, China is organizing one of the largest military exercises in recent years off the coast of Taiwan. This is likely a reaction to the recent announcement of US arms deliveries to the island nation.

Additionally, the United States recently carried out an attack on a port area in Venezuela where US President Trump said drugs were being loaded onto boats and smuggled across international waters, saying a “big explosion” had occurred. Oil prices are barely reacting to this news. Brent is up 0.4 percent.

Defense stocks are recovering after the selling pressures of the day before. There is still no sign of progress in peace or ceasefire negotiations in Ukraine. Rheinmetall gained 2.1 percent, Renk 2.5 percent and Hensoldt 0.9 percent.

Meanwhile, bank stocks continue to run. The sector can look forward to a good year in 2025 thanks to the rise in yields on the bond markets. Deutsche Bank gains 1.5 percent and Commerzbank 2.0 percent.

Chipmaker Infineon’s sales growth (+1.8%) is down, with only one sector seeing strong growth: semiconductors to power AI data centers. “We are seeing a strong increase in demand and many indicators suggest that this will continue in the coming years,” CEO Jochen Hanebeck told Handelsblatt. “We currently cannot deliver as much as customers order.”

=== 
INDEX           zuletzt    +/- %  absolut +/- % YTD 
Euro-Stoxx-50      5.788,57    +0,6%   36,86   +17,4% 
Stoxx-50         4.918,84    +0,5%   25,52   +13,6% 
DAX           24.476,16    +0,5%   125,04   +22,3% 
MDAX          30.548,50    +0,3%   95,97   +18,4% 
TecDAX          3.613,61    +0,4%   13,79   +5,0% 
SDAX          17.094,60    +0,5%   78,05   +22,6% 
CAC           8.141,91    +0,4%   29,89   +9,8% 
SMI           13.259,65    +0,1%   19,06   +14,2% 
ATX           5.304,29    +1,1%   56,33   +43,2% 
 
DEVISEN          zuletzt    +/- %    0:00 Mo, 18:00  % YTD 
EUR/USD          1,1769    +0,0%   1,1767   1,1756  +13,7% 
EUR/JPY          183,56    -0,1%   183,67   183,59  +13,1% 
EUR/CHF          0,9286    -0,1%   0,9291   0,9287  -1,0% 
EUR/GBP          0,8715    -0,0%   0,8716   0,8712  +5,4% 
USD/JPY          155,94    -0,1%   156,03   156,12  -0,5% 
GBP/USD          1,3505    +0,0%   1,3502   1,3494  +7,9% 
USD/CNY          7,0292    -0,0%   7,0312   7,0324  -2,3% 
USD/CNH          6,9881    -0,2%   6,9987   7,0001  -4,5% 
AUS/USD          0,6701    +0,1%   0,6693   0,6690  +8,4% 
Bitcoin/USD       87.770,40    +0,6% 87.232,35 87.544,55  -7,3% 
 
ROHÖL           zuletzt VT-Settlem.   +/- %  +/- USD  % YTD 
WTI/Nymex          58,29    58,08   +0,4%    0,21  -20,9% 
Brent/ICE          62,12    61,94   +0,3%    0,18  -19,4% 
 
METALLE          zuletzt    Vortag   +/- %  +/- USD  % YTD 
Gold           4.384,52   4.330,40   +1,2%   54,12  +72,8% 
Silber           74,90    72,18   +3,8%    2,73 +173,6% 
Platin          1.854,76   1.791,70   +3,5%   63,06 +137,7% 
Kupfer            5,49     5,49     0%    0,00  +33,6% 
YTD bezogen auf Schlussstand des Vortags 
(Angaben ohne Gewähr) 
=== 

Contact the author: maerkte.de@dowjones.com

DJG/thl/ros

(END) Dow Jones Newswires

December 30, 2025 7:01 a.m. ET (12:01 p.m. GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.



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