Najib Razak's Apology: A Look into the 1MDB Scandal

Former Malaysian Prime Minister Najib Razak apologized for the 1MDB financial scandal while maintaining he was unaware of illegal activities related to the fund. Despite a guilty verdict and ongoing trials, Najib insists on his innocence, attributing the scandal to associates' actions without his knowledge.

In a rare move, former Malaysian Prime Minister Najib Razak issued an apology concerning the mishandling of the 1MDB financial scandal, while maintaining his innocence in the illegal transfers from the sovereign wealth fund he co-founded in 2009. The 1MDB scandal has triggered investigations across multiple countries, dealing a massive financial and diplomatic blow to Malaysia.

Malaysia's judiciary found Razak guilty of corruption and money laundering in 2022, sentencing him to 12 years in prison, though the sentence was later reduced. Despite consistently proclaiming his innocence, Razak expressed regret over the scandal, which he described as a painful event during his tenure as finance minister and prime minister.

Razak, seeking to serve his remaining sentence under house arrest, alleged that he became a scapegoat for the 1MDB debacle. Citing news reports, he shifted the blame to fugitive businessman Jho Low and executives from Saudi oil firm Petrosaudi, who allegedly moved funds without his sanction. Razak continues to face further legal challenges, with a Malaysian court revisit slated for Oct. 30.

(With inputs from agencies.)