Najib was appealing last year by the Kuala Lumpur High Court for criminal breach of trust, abuse of power and money laundering, to a 12-year prison sentence and a fine of $50 million, one of five trials he is facing on corruption charges. .
The court found that he had illegally obtained approximately $10 million from SRC International, a former unit of the now defunct 1MDB, although Najib pleaded not guilty and has consistently denied wrongdoing.
The appeal was followed closely by leaders of the ruling party facing criminal charges following the return of Najib’s party, the United Malay National Organization (UMNO), to power in August.
“This is an important decision that has direct political implications,” opposition MP Wong Chen said on Twitter. “This decision means that if elections are held early next year, Najeeb will not be able to stand as a candidate.”
Appeal Court Judge Abdul Karim Abdul Jalil said he agreed with the high court on the conviction and sentence.
“We dismiss the appeal on all seven charges and confirm the conviction on all seven charges,” the judge said.
Najib is freed on bail pending the appeal, and Judge Abdul Karim again agreed to his request to be released on bail and stayed the sentence.
Najib’s lawyer Shafi Abdullah told the court that the former PM would appeal against the decision in the Federal Court, Malaysia’s top tribunal.
Deputy prosecutor V. Seethambaram told reporters after the verdict that Najeeb’s appeal process in the apex court could take up to nine months.
Dressed in a black suit, Najeeb showed no emotion as the verdict was read out and was occasionally seen taking notes during the hearing.
United States and Malaysian officials say $4.5 billion is believed to have been stolen from 1MDB, and more than $1 billion entered Najib’s personal accounts.
Najeeb has a total of 42 criminal charges and five cases, including the SRC case.
He remains influential within his party, which was voted out three years ago amid allegations of widespread corruption.
He is also eyeing a political comeback, telling Reuters in September that he did not rule out seeking re-election to parliament, a move that would require overturning his sentence.
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