Former Malaysian Prime Minister Najib Razak on the way to the Kuala Lumpur high court (Photo: EPA/VNA)Kuala Lumpur (VNA) – Former Malaysian Prime MinisterNajib Razak was questioned again by the Malaysian Anti-CorruptionCommission (MACC) on October 16 on what related to the scandal-hit statefund 1Malaysia Development Berhad (1MDB).
In September, Najib was charged with 25 counts of corruptionand money laundering involving the sum of 2.3 billion ringgit (556.3 million USD)embezzled from the 1MDB. However, he denied all the charges.
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 causing losses of up to 3.7 billion USD and leading to probes intothe financial markets in several countries such as the US, Switzerland,Singapore, Malaysia and China.
From the raids on several of Najib’s properties in KualaLumpur, police seized valuables worth up to 273 million USD.
The former PM was arrested on July 3 for corruption-related charges over hisinvolvement in the multi-billion-dollar 1MBD scandal. He was later released onbail.
He was charged with three counts of criminal breach of trustin his former posts as a prime minister and minister of finance, in associationwith the transfer of 42 million ringgit, or 10 million USD, from SRCInternational Sdn Bhd to his personal bank accounts between August 2011 andMarch 2015. He was later charged with three other counts of money laundering.
Najib will go on trial on February 12, 2019. If convicted, he will face multi-yearprison sentences.-VNA
VNA
