Najib: 'Only Fools Would Believe I'd Risk My Career for US$20M'

KUALA LUMPUR — Former Prime Minister Datuk Seri Najib Razak dismissed claims that he would jeopardize his political career and reputation for just US$20 million in 1MDB funds. Testifying in his ongoing trial, he called the prosecution’s accusations "absurd" and "desperate."

Najib, who held both the positions of Prime Minister and Finance Minister in 2011, challenged the assertion that he would risk his 40-year career for a fraction of the funds involved in the 1MDB scandal. The prosecution claims Najib abused his power to direct 1MDB to enter a US$1 billion joint venture with PetroSaudi, receiving US$20 million in two installments of nearly US$10 million each in 2011.

However, Najib maintained that he was not involved in the misappropriation of 1MDB funds, questioning the prosecution’s money trail report and asserting that it was "distorted." He compared the US$20 million he allegedly received to the much larger sums claimed to have been taken by other figures involved in the scandal, including fugitive financier Jho Low, PetroSaudi executives Tarek Obaid and Patrick Mahony, and others who allegedly received hundreds of millions in 1MDB funds.

Najib also refuted the narrative that he was a "generous" co-conspirator in the fraud, pointing out the vast discrepancies in the amounts received by various individuals involved. He stressed that he was never mentioned as a participant in the fraudulent transactions during the court proceedings or in Swiss court rulings against PetroSaudi executives.

Facing 25 charges in the 1MDB trial, Najib denies all allegations of abuse of power and money laundering involving over RM2 billion of 1MDB funds.