THE High Court was told today that Datuk Seri Najib Razak should be held accountable for the US$5.6 billion losses suffered by 1Malaysia Development Berhad (1MDB) when he held the highest positions as Prime Minister and Finance Minister.
Lead counsel Datuk Lim Chee Wee said that Najib, who is also the sole shareholder in 1MDB, acted to influence the board of directors to carry out extraordinary and hasty transactions.
He claimed that Najib's actions were aimed not only at enriching himself, his wife Datin Seri Rosmah Mansor, his stepson Riza Aziz, but also at fugitive businessman Low Taek Jho or Jho Low, who is his proxy.
For example, US$681 million went into Najib's account in 2013, the purchase of luxury goods by his wife, as well as investments in Reza Aziz's production, `The Wolf of Wall Street'.
According to Lim, the plaintiff will present documentary evidence of the planning, organisation and execution of the fraud in 1MDB and Najib covering up the fraud.
According to Lim, his position as Finance Minister gave him control over the Minister of Finance Incorporated (MOF Inc.), controlling the directors and management of 1MDB between 2009 and 2016.
“During this period, Jho Low, as a ‘shadow director’, gave instructions and directions on behalf of Najib, even though he did not hold an official position in the management of 1MDB.
“As a result of this misappropriation, the plaintiff suffered losses totalling US$5,644,525,051,” he said when reading out the opening statement at the trial of the suit by 1MDB and its four subsidiaries against Najib.
The first day of the trial was heard before Judicial Commissioner Mohamad Redzuan Idrus.
The country’s strategic investment company is suing Najib and seven others to claim damages for the misappropriation they committed that caused 1MDB to suffer losses of billions of ringgit.
Lim further stated that the plaintiffs have brought eight causes of action against Najib, namely fraud, negligence, breach of fiduciary duty, breach of trust, conspiracy, misfeasance in public office, unjust enrichment, and acceptance of constructive trust.
The same eight causes of action were also brought against the fifth, sixth and seventh defendants.
According to him, the suit has similarities in facts to the criminal proceedings against Najib.
On December 26, 2025, the High Court found Najib guilty of four counts of abuse of power and 21 counts of money laundering and sentenced him to 15 years in prison and a fine of RM13.5 billion.
On May 7, 2021, the writ of summons involved was originally filed by 1MDB and four subsidiaries against 15 defendants, including Najib.
The four subsidiaries are 1MDB Energy Holdings Limited, 1MDB Energy Limited, 1MDB Energy (Langat) Limited and Global Diversified Investment Company Limited, or better known as 1MDB Global Investments Limited.
Also named as a defendant is former 1MDB Director, Tan Sri Che Lodin Wok Kamaruddin, Tan Sri Ismee Ismail, Tan Sri Ong Gim Huat and Ashvin Jethanand Valiram.
The other defendants, former 1MDB Chief Executive Officers, Datuk Shahrol Azral Ibrahim Halmi and Mohd Hazem Abdul Rahman, former Chief Financial Officers (CFOs) Azmi Tahir and Radhi Mohamad and former 1MDB officials, Terence Geh Choh Heng, Jasmine Loo Ai Swan, Casey Tang Keng Chee, Vincent Beng Huat Koh, Kelvin Tan Kay Jin and Nik Faisal Ariff Kamil.
However, on 16 August 2021, 1MDB and its four subsidiaries dropped seven of the 15 defendants. They are Che Lodin, Ismee, Gim Huat, Ashvin Jethanand, Shahrol Azral, Mohd Hazem and Azmi. – August 3, 2026
.jpeg)
