World · Malaysia Bureau
Najib lacks funds for RM50m penalty despite potential asset release
The former prime minister would struggle to pay his court-imposed fine even if frozen assets were unfrozen, according to his son. Nizar Najib says the family is relying on external support to meet the substantial financial obligation.
LSN Malaysia ·
Former Prime Minister Najib Razak would be unable to settle his RM50 million fine without assistance, even if his seized assets were released, his son Nizar Najib indicated on Tuesday.
The amount represents a significant burden for the family, with Nizar suggesting they would need to depend on contributions from supporters and other sources to bridge the gap. He did not specify the family's current liquid assets or the total value of frozen holdings.
Najib was ordered to pay the RM50 million penalty as part of his conviction in the 1Malaysia Development Berhad (1MDB) financial scandal. The fine was imposed alongside a 12-year custodial sentence, though he has maintained his innocence and continues various legal appeals.
The statement underscores the substantial financial impact of the legal proceedings on the Najib family, particularly given the extended nature of court cases and associated costs. It also highlights the potential consequences of asset freezing orders in high-profile cases.
Nizar's comments come as the family navigates multiple ongoing legal matters and continues efforts to protect or recover seized assets through the court system.