Former Malaysian Prime Minister Najib Razak (Photo: upi.com) Kuala Lumpur (VNA) – Former Malaysian Prime Minister Najib Razakwas charged on September 20 with money laundering and abuse of power inconnection to the case of the state investment fund 1Malaysia DevelopmentBerhad (1MDB).
The charges include four counts of abuse of power, involving in 2.3 billionringgit (556.3 million USD), and 21 counts of money laundering.
Najib, 65, has denied all the charges.
The Malaysia Anti-Corruption Commission (MACC) arrested Najib on September 19 fornew corruption charges related to 1MDB.
Najib 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 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 also facedone count of corruption.
Najib was later charged with three othercounts of money laundering, bringing the total number of counts he has beenprosecuted to seven. He has pleaded not guilty to 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 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.
Najib will go on trial on February 12, 2019. The trial will run from February12 to March 29, 2019. If convicted, he will face multi-year prisonsentences.-VNA
The charges include four counts of abuse of power, involving in 2.3 billionringgit (556.3 million USD), and 21 counts of money laundering.
Najib, 65, has denied all the charges.
The Malaysia Anti-Corruption Commission (MACC) arrested Najib on September 19 fornew corruption charges related to 1MDB.
Najib 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 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 also facedone count of corruption.
Najib was later charged with three othercounts of money laundering, bringing the total number of counts he has beenprosecuted to seven. He has pleaded not guilty to 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 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.
Najib will go on trial on February 12, 2019. The trial will run from February12 to March 29, 2019. If convicted, he will face multi-year prisonsentences.-VNA
VNA
