Imprisoned former Malaysian Prime Minister Najib Razak issued a rare apology Thursday over the looting of a state investment fund worth billions of dollars "under my watch" while reiterating his innocence.
Najib set up the 1Malaysia Development Berhad state fund, or 1MBD, shortly after taking power in 2009. Investigators allege more than $4.5 billion was stolen from the fund and laundered by his associates to finance Hollywood films and extravagant purchases. The scandal upended Najib's government and he was defeated in the 2018 election. He faces a slew of legal cases and started serving time in 2022 after losing his final appeal in his first graft case.
