As case ruling looms, ‘sorry’ Najib says already ‘punished politically’ and unfair to hold him legally responsible for 1MDB scandal

KUALA LUMPUR, Oct 24 — Former prime minister Datuk Seri Najib Razak today apologised to Malaysians over the 1Malaysia Development Berhad (1MDB) financial scandal, saying he is deeply shocked and regretful over what had happened at the Finance Ministry-owned company.

Ahead of the High Court’s decision next Wednesday on whether Najib would be acquitted or have to defend himself against 25 charges over 1MDB’s stolen RM2.27 billion funds, Najib said he should not be made a victim or be held legally responsible over 1MDB.

Najib’s son, Datuk Mohamad Nizar Najib, today read out a press statement in which the former finance minister claimed to be innocent and to not have worked together with Malaysian fugitive Low Taek Jho to defraud 1MDB of its money.

“I have already been punished politically but as I am clearly not the mastermind and neither did I collaborate with Jho Low as recent events have shown, I should not be victimised legally too.

“I am still in deep shock knowing now the extent of the wretched and unconscionable shenanigans, and illegal things that happened in 1MDB,” Nizar said at a press conference at the Kuala Lumpur court complex that was streamed live online when reading out the statement on behalf of Najib.

“I deeply regret what has taken place at SRC and 1MDB. However, being held legally responsible for things that I did not initiate or knowingly enable is unfair to me and I hope and pray that the judicial process will, in the end, prove my innocence,” Nizar said on behalf of Najib.

Najib is currently serving his jail term as he was convicted over the misappropriation of former 1MDB subsidiary SRC International Sdn Bhd’s RM42 million, and cannot speak to the public directly as a prisoner.

Earlier in the same statement read out by Nizar, Najib said he had decided to make this statement “after much reflection over the course of 26 months in prison” and after what he described as “significant recent developments” regarding 1MDB.

“First and foremost, it pains me every day to know that the 1MDB debacle happened under my watch as minister of finance and prime minister. For that, I would like to apologise unreservedly to the Malaysian people,” Najib said.

Najib then went on to claim that the recent developments regarding 1MDB allegedly “proves that I am not the mastermind and did not collaborate with Jho Low in deceiving 1MDB of its funds”.

He cited the recent developments as being the recent conviction of PetroSaudi executives in court in Switzerland, as well as a “recent article” by local financial publication The Edge on 1MDB.

While Najib did not specify the date or name of The Edge’s article, he claimed that the publication had concluded that PetroSaudi and Jho Low had worked together to deceive him, and that he was allegedly unaware that PetroSaudi was siphoning 1MDB funds and that he did not knowingly receive any money from funds sent by 1MDB to PetroSaudi.

“As hard as it is for some people to fathom or understand, I was advised and honestly believed at that time that the funds I received were political donations from Saudi Arabia,” Najib said via Nizar.

Throughout the 1MDB trial, Najib’s lawyers had tried to claim that he believed the money which entered his private bank accounts were donations from Saudi Arabia, but the prosecution has said those funds originate from 1MDB and its subsidiaries.

Najib today cited unspecified court proceedings as allegedly showing that the Saudi government did make two “large donations” in 2010, and claimed those were not subject to any criminal proceedings or civil proceedings in court.

Looking back to the past, Najib today said in hindsight that he “should have acted differently” when various parties began to question what was happening at 1MDB.

Najib said he did initiate various investigations on 1MDB, but he was inclined then to believe the explanations by 1MDB’s board of directors and 1MDB’s management.

“And then when I became suspicious about what was actually transpiring at 1MDB, my immediate concerns were its financial predicaments and the risk it posed to diplomatic and bilateral relations at the highest level,” he said, before going on to express his deep shock and deep regret over 1MDB and his hope to be found innocent.

After reading out his father’s statement, Nizar also thanked Najib’s supporters who were present at the press conference.

“I humbly ask that you pray for my father’s court matter on October 30 to be eased, and for my father to be at the side of victory, God willing,” said Nizar, who is also an exco member in the Pahang state government, the Peramu Jaya state assemblyman in Pahang, and Pekan Umno vice-chief.

On October 30 (next Wednesday), the High Court will decide if the prosecution has made out its case and which would require Najib to enter defence in the 1MDB trial.

If required to enter defence, Najib would have the option of testifying in court in his own defence and calling in defence witnesses. If the High Court decides that Najib does not have to enter defence, he would be acquitted and walk free from the criminal charges in the 1MDB trial.