Malaysia's former Prime Minister Najib Razak's major 1MDB trial postponed

Najib who lost a general election last year has been hit with 42 criminal charges of graft and money laundering

Najib who lost a general election last year has been hit with 42 criminal charges of graft and money laundering

A Malaysian court on Monday postponed a trial against former Prime Minister Najib Razak for his alleged role in the embezzlement of billions in public funds that contributed to his shocking election defeat previous year.

Billions of dollars were looted from 1MDB and spent on everything from real estate to artwork, in a fraud allegedly involving Najib and his inner circle.

This follows his SRC International Sdn Bhd trial have yet to be concluded as the prosecution have yet to close its case as Malaysian Anti Corruption Commission investigating officer Senior Assistant Commissioner Rosli Hussain have yet to conclude his evidence.

The judge made a decision to postpone the trial until August 26 at the request of the prosecution, which accuses Najib of 21 counts of money laundering and four of abuse of power for allegedly diverting 2.28 billion ringgit ($546 million) from the fund into his personal bank accounts.

Against this backdrop The Edge is reporting today's proceedings involving Najib, who is the highest ranking politician to be charged in court, live.

The lead prosecutor told the court that a large number of documents needed to be served to the defense in relation to the SRC case while the defense cited an insufficient amount of time after being served witness statements last week.

High Court judge Collin Lawrence Sequerah then fixed August 26 for the 1MDB trial to commence after hearing submissions from both the defence and prosecution.

Sequerah is expected to give a ruling on whether to start the 1MDB trial and proceed with the prosecution's opening statement, or give another adjournment until the SRC trial is fully completed.

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So what is this 1MDB trial about? .

The management of Kuala Lumpur High Court and authorities are prepared for the commencement of the 1MDB trial.

However, Sri Ram said this would not be possible as Najib was due to appear before another High Court for his SRC International trial.

Previously, Justice Sequerah has set Aug 19 to 29; the month of September and October except for Fridays; and the first two weeks of November for Najib's 1MDB trial.

Najib is also accused of having transferred illegal funds out of his AmIslamic Bank account totalling RM2,196,786,711.87 (RM2.197 billion), including a total of over RM2.034 billion to Tanore Finance Corporation and smaller sums of RM150 million and over RM12 million to another AmIslamic Bank account owned by him.

If found guilty, the country's sixth PM could face a maximum jail term of not more than 20 years.

Najib's second trial revolves around 25 money laundering and corruption charges linked to joint ventures, asset sales and debt issuance by 1MDB.

He has pleaded not guilty and says the charges are politically motivated.

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