Timeline of Malaysia’s 1MDB scandal
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Malaysia’s former prime minister Najib Razak has been jailed for 12 years after being found guilty of corruption charges in the first trial linked to a multi-billion-dollar scandal at state investment fund 1MDB
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Jul 2009: Three months after becoming prime minister, Najib launches 1Malaysia Development Berhad (1MDB) to invest government money in energy, property and other projects in Malaysia
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2015: Questions raised around 1MBD’s activities after it misses deadline to repay $550 million loan. Wall Street Journal reports nearly $700 million of 1MDB money went into Najib’s personal bank account. He denies allegations
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2016: Malaysia’s Attorney General clears Najib of wrongdoing, saying money in his account was donation from Saudi Arabia’s royal family
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2017: U.S. Justice Department says more than $4.5 billion was plundered from 1MDB by senior fund officials
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May 2018: Najib loses Malaysia’s general election. New government reopens probe into 1MDB
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Jun: Malaysian police find nearly $275 million worth of jewellery, handbags, watches and other items at premises linked to Najib
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Jul: First charges laid against Najib in relation to 1MDB
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Dec: Malaysia files criminal charges against U.S. investment bank Goldman Sachs in relation to 1MDB bond sales
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Apr 2019: Najib appears in court to face seven charges relating to 1MDB unit SRC International – first in series of graft trials
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May 2020: Stepson Riza Aziz agrees to testify against Najib in 1MDB trial, after prosecutors drop $248-million money laundering case
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Jul 25: Goldman Sachs agrees to pay $3.9 billion to settle Malaysia’s criminal probe
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Jul 28: Najib found guilty on seven charges
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Sources: AP, Reuters Pictures: AP, Getty Images © GRAPHIC NEWS