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Malaysia's former PM Najib Razak (C) at the Kuala Lumpur court for Tuesday's verdict on his three charges of money laundering, three of criminal breach of trust and one count of abuse of power. Photo: Mohd Rasfan/AFP via Getty Images

Former Malaysian Prime Minister Najib Razak was found guilty of all seven corruption charges Tuesday, in the first of five trials connected to a multi-billion dollar scandal at state fund 1MDB. He's vowed to appeal, AP reports.

Why it matters: The case helped lead to his party's 2018 election loss and was considered a "test of Malaysia's rule of law and anti-corruption efforts," per the BBC. The verdict comes days after Goldman Sachs agreed to a $3.9 billion settlement — including $2.5 billion in cash —  in exchange for charges being dropped over its role in raising funds for 1MDB when Najib was PM, Bloomberg notes.

Go deeper: Goldman banker banned from industry amid 1MDB scandal

Editor's note: This article has been updated with new details throughout.

Go deeper

Former top GOP fundraiser Elliott Broidy charged for foreign lobbying

Elliot Broidy (R) with business executive Fred Sands (L). Photo: Stefanie Keenan/Getty Images for Pepperdine University

Elliott Broidy, the former deputy finance chairman of the Republican National Committee, appears set to plead guilty to conspiracy to act as an unregistered foreign agent by lobbying the Trump administration to drop an investigation into the massive Malaysian embezzlement scheme 1MDB, according to a court filing.

Why it matters: Broidy is the latest 2016 Trump campaign associate to face criminal charges, joining former campaign chairman Paul Manafort, deputy chairman Rick Gates, chief executive Steve Bannon, adviser Michael Flynn, outside adviser Roger Stone and fellow deputy finance chairman Michael Cohen.

Toyota to build $1.3 billion U.S. battery plant in North Carolina

The all-electric Toyota bZ4X, the company's first battery-electric vehicle, at the Los Angeles Auto Show in Los Angeles, California on Nov. 17. Photo: Frederic J. Brown/AFP via Getty Images

Toyota announced Monday it's investing $1.3 billion to construct an electric vehicle battery "megasite" near Greensboro, North Carolina, set to open in 2025.

Why it matters: Toyota's Prius hybrid won environmental plaudits when it launched in 1997, but it has since lost ground to electric vehicle world leader Tesla, per Axios' Joann Muller. This battery plant will be the first to produce automotive batteries for Toyota in North America.

3 hours ago - Politics & Policy

Congress hunts for shortcut to pass defense funding, debt limit combo

Senate Majority Leader Chuck Schumer returned to his office Monday. Photo: Anna Moneymaker/Getty Images

The scramble in Congress to pass the National Defense Authorization Act is being complicated by an effort to tie it to a needed hike in the federal debt limit.

Why it matters: The House and Senate are rapidly coming up against a series of deadlines they must address before the end of the year — or risk disrupting crucial military funding and upending the economy. Congressional leaders are now hoping they can knock out both "must-pass" priorities in one, complex swoop.

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