Former Malaysian Prime Minister Najib Razak will go on trial on February 12, 2019 on charges linked to multi-billion-dollar losses at the state investment fund 1Malaysia Development Berhad (1MDB), a court ruled on August 10.
Former Malaysian Prime Minister Najib Razak. (Photo: Reuters)
Hanoi (VNA) – Former Malaysian Prime MinisterNajib Razak will go on trial on February 12, 2019 on charges linked tomulti-billion-dollar losses at the state investment fund 1Malaysia DevelopmentBerhad (1MDB), a court ruled on August 10.
The trial will run from February 12 to March 29, 2019, JudgeMohamad Nazlan Mohamad Ghazali said in a pre-trial hearing. About 50 witnessesare expected to be present at the trial.
Najib, 65, was arrested last month and has been chargedwith three counts of criminal breach of trust, one count of abuse of power, andthe latest charge updated to three counts of money laundering.
Each count carries a fine and a sentence of up to 20years in prison. The former PM pleaded not guilty to all charges and has beengranted bail.
All seven charges against him relate to an allegedtransfer of 42 million MYR (10 million USD) from SRC International, asubsidiary of 1MDB, to his personal bank accounts between August 2011 and March2015 when he served as Minister of Finance and Prime Minister.
The former PM founded the 1MDB investment fund in 2009,supposedly to serve Malaysia’s development through global partnerships andforeign 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, Malaysia,and China.
Najib and his wife were first questioned about the 42-million MYR transfershortly after he was defeated in the national election in May. They were laterbarred from leaving the country.
From the raids on several of his family’s properties in Kuala Lumpur, policeseized assets worth up to 273 million USD.–VNA
Former Malaysian Prime Minister Najib Razak has been summoned by the police again to have his statement recorded over the investigation into the 1Malaysia Development Berhad (1MDB).
Malaysian Prime Minister Mahathir Mohamad on July 20 affirmed that corruption whistleblowers will be protected by the new Government, led by the Alliance of Hope, reported the Malay Mail newspaper.
Malaysia’s anti-graft agency has requested former Prime Minister Najib Razak, who has been involved in the 1Malaysia Development Berhad (1MDB) scandal, to appear at its office on August 7.
Former Malaysian Prime Minister Najib Razak has been charged with three new counts of money laundering involved in the multi-billion-dollar scandal of the state investment fund 1Malaysia Development Berhad (1MDB).
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Former Malaysian Prime Minister Najib Razak. (Photo: Reuters)
