<p>Former Malaysian prime minister Najib Razak will on Tuesday face the first verdict in a series of criminal trials against him over billions of dollars allegedly stolen from 1Malaysia Development Bhd (1MDB), a state fund he co-founded in 2009.</p>.<p><strong>What is 1MDB?</strong></p>.<p>1MDB was a sovereign fund set up in 2009 with the help of Malaysian financier Jho Low to promote economic development.</p>.<p>Najib chaired its advisory board until 2016.</p>.<p><strong>How did billions go missing?</strong></p>.<p>1MDB raised billions of dollars in bonds for use in investment projects and joint ventures between 2009 and 2013.</p>.<p>The US Department of Justice (DoJ) said $4.5 billion was diverted to offshore bank accounts and shell companies, many linked to Low.</p>.<p>Malaysian authorities say at least $4.3 billion more is unaccounted for.</p>.<p>The funds siphoned off were used to buy luxury assets and real estate for Low and his associates, including a private jet, a superyacht, hotels, and artwork by Picasso and Monet, US lawsuits said.</p>.<p>Some of the money was allegedly used to finance Hollywood films including 2013's "The Wolf of Wall Street", produced by Red Granite, a film company co-founded by Najib's stepson, Riza Aziz.</p>.<p>Malaysian prosecutors withdrew money laundering charges against Riza in May after reaching a $107.3 million settlement.</p>.<p><strong>How was Najib involved?</strong></p>.<p>Authorities say Najib illegally received more than $1 billion traceable to 1MDB.</p>.<p>Najib, voted out in a 2018 election amid public anger over the scandal, has pleaded not guilty to 42 criminal charges over losses at 1MDB and other state entities.</p>.<p>Defence lawyers say he was misled by Low and that the funds in his accounts were donations from the Saudi royal family.</p>.<p>Najib's wife, Rosmah Mansor, has also been charged with money laundering and bribery. She has pleaded not guilty.</p>.<p><strong>How are authorities investigating 1MDB?</strong></p>.<p>At least six countries, including Singapore and Switzerland, have launched money laundering, financial mismanagement and criminal investigations into 1MDB dealings.</p>.<p>The DoJ struck a deal in November to recoup $1 billion from the sale of seized assets linked to Low, a record haul for a US anti-corruption probe.</p>.<p>Malaysia had also accused Goldman Sachs of misleading investors over three bond sales totalling $6.5 billion that the US bank helped raise for 1MDB. Goldman had pleaded not guilty and consistently denied wrongdoing.</p>.<p>This week, Goldman agreed to settle the dispute for $3.9 billion with Malaysia, which will drop all criminal charges against the bank.</p>.<p><strong>Where is low now?</strong></p>.<p>Low, charged in Malaysia and the United States over his central role in the case, denies wrongdoing.</p>.<p>His whereabouts are not known though authorities believe he may be hiding in China.</p>
<p>Former Malaysian prime minister Najib Razak will on Tuesday face the first verdict in a series of criminal trials against him over billions of dollars allegedly stolen from 1Malaysia Development Bhd (1MDB), a state fund he co-founded in 2009.</p>.<p><strong>What is 1MDB?</strong></p>.<p>1MDB was a sovereign fund set up in 2009 with the help of Malaysian financier Jho Low to promote economic development.</p>.<p>Najib chaired its advisory board until 2016.</p>.<p><strong>How did billions go missing?</strong></p>.<p>1MDB raised billions of dollars in bonds for use in investment projects and joint ventures between 2009 and 2013.</p>.<p>The US Department of Justice (DoJ) said $4.5 billion was diverted to offshore bank accounts and shell companies, many linked to Low.</p>.<p>Malaysian authorities say at least $4.3 billion more is unaccounted for.</p>.<p>The funds siphoned off were used to buy luxury assets and real estate for Low and his associates, including a private jet, a superyacht, hotels, and artwork by Picasso and Monet, US lawsuits said.</p>.<p>Some of the money was allegedly used to finance Hollywood films including 2013's "The Wolf of Wall Street", produced by Red Granite, a film company co-founded by Najib's stepson, Riza Aziz.</p>.<p>Malaysian prosecutors withdrew money laundering charges against Riza in May after reaching a $107.3 million settlement.</p>.<p><strong>How was Najib involved?</strong></p>.<p>Authorities say Najib illegally received more than $1 billion traceable to 1MDB.</p>.<p>Najib, voted out in a 2018 election amid public anger over the scandal, has pleaded not guilty to 42 criminal charges over losses at 1MDB and other state entities.</p>.<p>Defence lawyers say he was misled by Low and that the funds in his accounts were donations from the Saudi royal family.</p>.<p>Najib's wife, Rosmah Mansor, has also been charged with money laundering and bribery. She has pleaded not guilty.</p>.<p><strong>How are authorities investigating 1MDB?</strong></p>.<p>At least six countries, including Singapore and Switzerland, have launched money laundering, financial mismanagement and criminal investigations into 1MDB dealings.</p>.<p>The DoJ struck a deal in November to recoup $1 billion from the sale of seized assets linked to Low, a record haul for a US anti-corruption probe.</p>.<p>Malaysia had also accused Goldman Sachs of misleading investors over three bond sales totalling $6.5 billion that the US bank helped raise for 1MDB. Goldman had pleaded not guilty and consistently denied wrongdoing.</p>.<p>This week, Goldman agreed to settle the dispute for $3.9 billion with Malaysia, which will drop all criminal charges against the bank.</p>.<p><strong>Where is low now?</strong></p>.<p>Low, charged in Malaysia and the United States over his central role in the case, denies wrongdoing.</p>.<p>His whereabouts are not known though authorities believe he may be hiding in China.</p>