Kuwait Sentences Five People in 1MDB Corruption Case
A Kuwaiti criminal court has sentenced five people, including Malaysian businessman and financier Low Taek Jho, to up to 10 years in prison for their involvement in money laundering cases as part of the worldwide Malaysian state fund 1MDB scandal.
The court on Tuesday sentenced two Kuwaiti defendants to 10 years in prison in relation to the more than $4.5 billion 1MDB scandal at the 1Malaysia Development Berhad state investment fund.
Mr Low, the fugitive Malaysian businessman and financier, was sentenced in his absence. A French businessman of Syrian descent and a Kuwaiti lawyer were also sentenced.
Under former Malaysian prime minister Najib Razak, the country’s sovereign fund was systematically embezzled. The former prime minister and his associates were found guilty of stealing $4.5 billion from 1MDB in a fraud that stretched from Switzerland to Seychelles.
