Reuters
Former Malaysian PM Najib Razak appealed his 2020 conviction on charges related to the 1MDB scandal.
Razak was convicted on money laundering and breach of trust charges and faces 12 years in prison.
Lawyers for Razak claim he was "misled" by business partner Jho Low.
Former Malaysian Prime Minister Najib Razak is attempting to overturn his conviction on seven counts of criminal breach of trust, money laundering, and abuse of power in one of the biggest financial crimes in history — the 1MDB financial scandal.
1MDB, short for 1Malaysia Development Berhad, was a sovereign wealth fund founded by Razak and his business partner Jho Low in 2009. Over the course of six years, 1MDB raised billions, ostensibly meant to fund development projects in Malaysia. But authorities say that instead of funding infrastructure projects, the bulk of the money — around $4.5 billion — actually ended up in offshore bank accounts and shell companies run by the pair.