KUALA LUMPUR: Datuk Seri Najib Razak was the ultimate decision-maker in 1Malaysia Development Bhd (1MDB), the High Court ruled.
Judge Datuk Collin Lawrence Sequerah said, based on the evidence presented by the prosecution, the former prime minister clearly had a personal interest and played a key role right from the establishment of 1MDB's predecessor, Terengganu Investment Authority.
He said this in his judgment when ordering Najib to enter his defence for all corruption charges involving the sovereign wealth fund today.
The Court of Appeal judge, who presided as High Court judge, took about two hours to read out his judgment, dissecting each and every charge against Najib in the trial and giving the reasoning behind his ruling.
"The accused is the main decision-maker. He did not file any police report regarding the alleged involvement of other individuals in the misappropriation of 1MDB funds.
"Based on the money trail, funds from 1MDB entered the accused's personal account and were used by him.
"The evidence presented by the prosecution shows that the accused had an interest in 1MDB and also indicates that the government had to bear losses in repaying bonds and loans.
"In the end, the actions of the accused did not bring any benefits or advantages to the government," he said.
Earlier, the court also addressed several preliminary issues raised by the defendant during the trial, including the validity of all charges and the admissibility of documents presented by witnesses, among other matters.
Sequerah, addressing the validity of the charges, stated that the former prime minister was neither misled nor prejudiced regarding the offences.
He noted that all charges clearly specify the time and place of the offences for which the accused is charged, and no prejudice has been demonstrated against Najib.
The judge also said there was no apparent motive for the key prosecution witnesses to testify against Najib, as asserted by the former prime minister's defence team.
The individuals mentioned include former Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz, former 1MDB lawyer Jasmine Loo Ai Swan, Najib's former aide Datuk Amhari Efendi Nazarudin, and former 1MDB chief executive Datuk Shahrol Azral Ibrahim Halmi.
"Amhari and Loo admitted to receiving funds from Low Taek Jho while Shahrol Aral received salary and bonuses.
"Zeti and her family members were also mentioned, with suggestions of ulterior motives.
"Despite allegations against them, the court emphasised that these witnesses faced no legal presumption affecting Najib's involvement.
"Considering all evidence, the court noted that these witnesses are not on trial, and thus a detailed analysis of their demeanour is not required," he said.
Najib, 71, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 1MDB funds and 21 charges of money laundering involving the same amount.
The former Umno president was charged under Section 23(1) of the Malaysian Anti-Corruption Commission Act, which provides for imprisonment of up to 20 years and a fine of up to five times the amount or value of the bribe, or RM10,000, whichever is higher, if found guilty.
For the 21 charges of money laundering, Najib is accused of committing the offences between March 22, 2013, and Aug 30, 2013.
All these charges are under Section 4(1)(a) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act, which carries a maximum fine of RM5 million and imprisonment of up to five years, or both, upon conviction.