Former Malaysian PM brought to court over corruption scandal
Former Malaysian Prime Minister Najib Razak made his appearance in court in Kuala Lumpur on July 4 for corruption-related charges over his alleged involvement in the multibillion-dollar 1MBD scandal.
Former Malaysian Prime Minister Najib Razak (centre) comes to the Malaysian Anti-Corruption Commission headquarters in Putrajaya (Photo: AFP/VNA)
Kuala Lumpur (VNA) – Former Malaysian Prime MinisterNajib Razak made his appearance in court in Kuala Lumpur on July 4 forcorruption-related charges over his alleged involvement in themultibillion-dollar 1MBD scandal.
Najibwas charged with three counts of criminal breach of trust in his former posts asa prime minister and minister of finance, in association with the transfer of 42million Malaysian ringgit (10 million USD) from SRC International, a subsidiaryof the 1MBD, to his personal bank accounts between August 2011 and March 2015.
He alsofaced one count of corruption.
Eachcount carries a fine and a sentence of up to 20 years in prison.
Najibpleaded not guilty to all charges at the court.
Najib founded the 1MDB investment fund in 2009 with the aimof serving Malaysia’s development through global partnerships and foreigndirect 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.
In early May, the Malaysian Anti-Corruption Commissionsummoned Najib and his wife for investigation. From recent raids on several Najib’s properties in KualaLumpur, police also seized a large quantity of valuables worth up to 273million USD.
New Prime Minister Mahathir Mohamad said one of the toppriorities of his government is dealing with the corruption and recovering thelosses from 1MDB. The Malaysian Government also re-investigated the 1MDB caseand set up a special committee to look into the problems surrounding thisfund.-VNA
Malaysian police said on June 27 that the valuables seized from properties related to former Malaysian Prime Minister Najib Razak are worth up to 273 million USD, the biggest seizure in the country’s history.
Newly-elected President of the United Malays National Organisation arrived at the Malaysian Anti-Corruption Commission headquarters on July 2 to give a statement over his links to the 1MDB scandal.
Malaysian authorities arrested their former Prime Minister Najib Razak on July 3, and they are set to charge him for his involvement at the 1Malaysia Development Berhad (1MDB) in the loss of billions of US dollars the following day.
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Former Malaysian Prime Minister Najib Razak (centre) comes to the Malaysian Anti-Corruption Commission headquarters in Putrajaya (Photo: AFP/VNA) 
