Malaysia's Najib Razak granted house arrest for remaining two years of 1MDB sentence

  • Malaysia's government said Najib Razak can serve his sentence under house arrest.
  • The conditional pardon requires a 50 million ringgit fine, about $12 million.
  • Najib's conviction dates to 2020 and involved the 1MDB sovereign-wealth fund.

Malaysia's former Prime Minister Najib Razak can serve the remaining two years of his sentence for abuse of power under house arrest, the government said Friday. The conditional pardon requires him to pay a fine of 50 million ringgit, or about $12 million. The measure relates to his 2020 graft conviction linked to the looting of 1MDB, Malaysia's sovereign-wealth fund, in a case described as a watershed moment in one of the largest financial crimes of the century. The scandal touched jurisdictions including Switzerland, Curaçao and the U.S.

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Malaysia's Najib Razak granted house arrest for remaining two years of 1MDB sentence - CoinPost Terminal