KUALA LUMPUR: The Federal Territories Pardons Board has reduced Datuk Seri Najib Razak's fine as well as halved his 12-year jail term to six.
This means that the former prime minister will be released from prison on August 23, 2028.
The board's secretariat, in a statement today, said it had convened its 61st meeting on Jan 29. The meeting, it said, heard five pardon appeals, including Najib's.
Also Read: Najib Razak's SRC International case breakdown
The meeting was chaired by then-Yang diPertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah.
It said after weighing all opinions and advice, the Pardons Board has decided that the punishment and fine be reduced.
"As such, it was agreed that Datuk Seri Mohd Najib Razak will be granted an early release, namely August 23, 2028.
"His fine, initially set at RM210 million, has also been reduced to RM50 million," it said.
However, it said that if the fine isn't paid, Najib's prison term will be extended by a year, which means that he would be released on Aug 23, 2029.
The statement brings to an end speculation over the board's decision regarding Najib's fate.
On Tuesday, the country was gripped by rumours of Najib being granted a royal pardon.
Yesterday, Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa said the Pardons Board is expected to release an official statement this week regarding Najib's application for a royal pardon following his conviction on corruption charges and a 12-year prison sentence.
Dr Zaliha sits on the Federal Territory Pardons Board for the Federal Territories.
Najib was sentenced to 12-years jail after he was found guilty of one count of abuse of power with regard to Retirement Fund Inc's (KWAP) RM4 billion loan to SRC International Sdn Bhd, as well as three counts each of criminal breach of trust and abuse of power involving RM42 million of SRC funds.
He was also fined RM210 million.
SRC is a former subsidiary of 1Malaysia Development Bhd (1MDB).
In August 2022, the Federal Court upheld the conviction.
The 70-year-old former Pekan member of Parliament is still facing four charges of abusing his position to obtain bribes totalling RM2.3 billion of 1MDB funds and 21 charges of money laundering involving the same amount.