Former Malaysian PM Najib Razak to face money laundering charge
The Malaysian anti-corruption agency said on August 7 that former Prime Minister Najib Razak, who has been involved in the 1Malaysia Development Berhad (1MDB) scandal, will be charged with money laundering.
Former Prime Minister Najib Razak Najib Razak. (Source: South China Morning Post)
Hanoi (VNA) – The Malaysian anti-corruption agency said on August 7that former Prime Minister Najib Razak, who has been involved in the 1MalaysiaDevelopment Berhad (1MDB) scandal, will be charged with money laundering.
Najib Razak, 65, was summoned on August 7 by the Malaysia Anti-Corruption Commission(MACC) for questioning lasted 45 minutes.
In a statement issued after the interrogation, the MACC said Najib will facenew charges under anti-money laundering laws. The additional charges are alsolinked to SRC International, an unit of 1MDB.
Najib was arrested on July 3 forcorruption-related charges over his involvement in the multi-billion-dollar1MBD scandal. He was later released on bail.
He was charged with three counts of criminal breach of trust in his formerposts as a prime minister and minister of finance, in association with thetransfer of 42 million ringgit, or 10 million USD, from SRC International SdnBhd to his personal bank accounts between August 2011 and March 2015. He alsofaced one count of corruption.
Each count carries a fine and a sentence of up to 20 years in prison. However,Najib pleaded not guilty to all charges at the court.
Najib founded the 1MDB investment fund in 2009, supposedly to serve Malaysia’sdevelopment through global partnerships and foreign direct investment.
However, it became the centre of a money laundering scandal, allegedly causinglosses of up to 3.7 billion USD and leading to probes into the financialmarkets in several countries such as the US, Switzerland, Singapore, Malaysiaand China.
From the raids on several of Najib’s properties in Kuala Lumpur, police seizedvaluables worth up to 273 million USD. His trial is scheduled to begin inFebruary next year.-VNA
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Former Prime Minister Najib Razak Najib Razak. (Source: South China Morning Post)
