Former Malaysian Prime Minister Najib Razak will face further corruption charges related to money allegedly siphoned off from scandal-plagued state fund 1Malaysia Development Berhad (1MDB), the anti-corruption agency said yesterday.
Najib has faced intense scrutiny since unexpectedly losing a general election in May to Mahathir Mohamad, who reopened investigations into allegations that billions of dollars were stolen from 1MDB. In July and August, Najib was slapped with charges of money laundering, criminal breach of trust and abuse of power in relation to 1MDB.
The charges relate to funds of about 42mn ringgit ($10.14mn) that allegedly flowed from SRC International, a former 1MDB unit, into Najib’s personal bank account. Najib has pleaded not guilty to all charges and has consistently denied wrongdoing.
Najib was arrested yesterday in connection with a deposit of 2.6bn ringgit ($627.79mn) into his personal account and will be taken to court today, the Malaysian Anti-Corruption Commission (MACC) said in a statement. Najib would face “several charges” under a section of the MACC Act which deals with using one’s office or position for gratification, the agency said.
The US Department of Justice has alleged in civil lawsuits that more than $4.5bn from 1MDB was laundered through a complex web of transactions and shell companies. It also alleges that $681mn, based on foreign exchange rates at the time of the transaction, of 1MDB funds went into Najib’s bank account.
Najib Razak would face u201cseveral chargesu201d under a section of the anti-corruption act which deals with using one’s office or position for gratification.
