Malaysia 1MDB scandal: Former PM Najib Razak charged with money laundering

10 August, 2018, 09:24 | Author: Carlos George
  • Malaysia's ex-PM Najib pleads not guilty to money laundering

Previously on July 4, Najib was charged and claimed trial to three counts of criminal breach of trust and another charge of power abuse over RM42 million of funds said to belong to the former 1MDB unit.

Malaysia on Wednesday filed new charges of money laundering against former prime minister Najib Razak, AFP reported.

Malaysia's former prime minister Najib Razak smiles as he leaves Duta court complex in Kuala Lumpur on Wednesday.

Wearing a dark grey suit, Najib, 65, smiled and waved to reporters as he arrived at court.

The charges came a month after Najib was charged with three counts of criminal breach of trust and one charge of abuse of power.

The new investigation into 1MDB began after his shock election loss in May. Asked if he understood them, Mr Najib said: "I understand".

Najib was summoned on Tuesday by the Malaysian Anti-Corruption Commission (MACC) for a new round of questioning, which lasted for about 45 minutes.

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The scandal at 1MDB fully erupted in 2015 after media reports that hundreds of millions of dollars from 1MDB were diverted to his personal accounts.

About 30 supporters were gathered outside the court, shouting, "Hidup Najib" (Long live Najib).

All the charges relate to SRC International, an energy company that was originally a subsidiary of 1MDB.

He's accused of stealing more than $13 million from a state investment fund, just part of the $4.5 billion USA investigators claim was siphoned from the fund known as 1MDB. Najib has been under investigation related to 1MDB since losing the elections, but has denied any wrongdoing.

Najib, who has consistently denied any wrongdoing, and his allies are accused of plundering billions of dollars from 1MDB to buy everything from United States real estate to artworks.

DOJ has alleged that an estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates.

After Najib left its office, the anti-graft agency said he would be charged under the anti-money laundering act. Malaysian financier Low Taek Jho (better known as Jho Low) allegedly bought the yacht using funds stolen from 1MDB.

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