Malaysia’s former prime minister Najib Razak has taken to the witness box for the first time to defend himself against charges linked to a multibillion-dollar 1MDB scandal.

Najib is accused of illegally receiving 42m ringgit ($10m) from former 1MDB unit SRC International and was ordered to present his defence in November after a judge ruled prosecutors had successfully established a case against him.

He has pleaded not guilty to the charges of criminal breach of trust, money laundering and abuse of power in the SRC case.

Najib, clad in a blue suit, took the oath in English and Malay before starting to read from his 243-page written testimony in Malay.

His testimony, in a question and answer format, began with how he set up the 1MDB infrastructure fund in 2009 and how the fugitive Malaysian financier Jho Low, said to be at the centre of the scandal, came to be associated with the fund.

“[Low] portrayed himself as someone influential in the Middle East countries who I believed was able to facilitate investments and partnerships between them,” Najib said, speaking calmly and deliberately to a packed courtroom.

Low has been charged in Malaysia and the US over the alleged theft from 1MDB. Low has denied any wrongdoing. His whereabouts are unknown.

The US Department of Justice has said about $4.5bn siphoned from 1MDB was used by Low and his associates to buy a yacht, a private jet, as well as Picasso paintings, jewellery, and real estate.

Muhammad Shafee Abdullah, who leads Najib’s defence team, said in an opening statement ahead of Najib’s testimony that his client had no reason to believe the proceeds of any illegal activity were transferred to him.

“[Najib] was not involved in any corrupt arrangement involving funds of SRC and did not solicit any bribes from any person,” he said.

Najib, who unexpectedly lost a general election last year, is now facing dozens of graft and money laundering charges over allegations that he received about $1bn in 1MDB funds. He has pleaded not guilty to all the charges.

If convicted, Najib, 66, could face hefty fines and jail terms ranging from 15 to 20 years on each charge.