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Malaysia halves former PM Najib's 12-year sentence in 1MDB scandal

KUALA LUMPUR -- Malaysia's pardons board said Friday it will halve former Prime Minister Najib Razak's 12-year sentence on corruption and money laundering charges linked to the multibillion-dollar 1MDB scandal.

The five-member panel, chaired by Malaysia's former king, said it will also slash a fine imposed on the disgraced politician to 50 million ringgit ($10.6 million) from 210 million ringgit. Failure to pay would result in another year in jail, the board added.