00:01The Kuala Lumpur High Court heard on Monday that one MDB and its four subsidiaries will
00:06prove that former Prime Minister Datuk Seri Najib Razak stood at the heart of the alleged fraud
00:11that cost the Sovereign Wealth Fund 5.64 billion US dollars. On the first day of the trial arising
00:17from a suit they filed against Najib and seven others in 2021. The plaintiffs said Najib used
00:23his apex position, power and influence as Prime Minister, Finance Minister and Controller of
00:29Minister of Finance Incorporated to commit acts and exert influence over one MDB's board.
00:34They claimed that Najib executed abnormal transactions with undue haste to enrich himself,
00:40his wife, his stepson and his proxy and fugitive businessman Jolo. They said they will show
00:45that Najib had breached the trust placed in him as a leader. The plaintiff's first witness who
00:50testified in the trial was UK-based Kroll Advisory Limited's Director of Investigation Richard
00:55Templeman. They also named former one MDB Finance Director Terence Gay, former counsel Jasmine Liu,
01:02former Executive Director Casey Tang, former Chief Investment Officer Nick Faisal Arif Kamil and three
01:07others as defendants. The writ of summons stated that the plaintiffs, among other things, accused the
01:13defendants of breach of trust and statutory duty, abuse of power and conspiracy to misappropriate
01:19one MDB funds. In December 2025, Najib was sentenced to 15 years imprisonment and slapped with the
01:2611.4 billion ringgit fine for his conviction on four counts of abuse of power and 21 counts of money
01:32laundering involving one MDB funds.
