Malaysia's former PM Najib charged with three counts of money laundering

10 August, 2018, 09:25 | Author: Sheila Harris
  • Former prime minister Datuk Seri Najib Razak arrives at the Kuala Lumpur Court Complex

Appearing at a court in Kuala Lumpur, Najib was charged with three counts of money-laundering over claims he pocketed 42 million ringgit (342 million baht) from a former unit of scandal-hit sovereign wealth fund 1MDB.

The charges - which Najib denies - relate to three transfers totalling 42m ringgit (US$10m) into his bank accounts from SRC International, a former unit of the 1MDB fund that U.S. investigators say was looted of billions by Najib's associates.

Looking exhausted as he appeared in court, Najib was charged with three counts of money laundering over claims that he pocketed 42 million ringgit ($10.3 million).

Najib was accompanied by his children as he arrived at the courthouse in a four-car motorcade.

Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) has confirmed that Datuk Seri Najib Tun Razak would be charged again tomorrow (Wednesday).

As he left court, a handful of supporters shouted "long live Najib" while his lawyer Muhammad Shafee Abdullah said the toppled leader believed the case was driven by politics.

Najib, 65, had pleaded not guilty to abuse of power and three counts of criminal breach of trust last month.

Manafort Trial Defense Chips Away at Credibility of Star Witness Gates
Gates testified that Manafort asked him to float Calk, who was on Trump's economic advisory council, for Secretary of the Army. Vincent and the Grenadines and the United Kingdom revealed the accounts were connected to Manafort and his associates.

The new investigation into 1MDB began after his shock election loss in May.

The judge transferred the case to the high court to be heard later on Wednesday, along with previous charges. But reports emerged later that billions of USA dollars were misappropriated.

The yacht which was seized by Indonesian authorities past year, was purchased by Malaysian financier Jho Low in 2014, a close family friend of Najib.

The charges are related to 42m ringgit (US$10m).

Money allegedly siphoned off from SRC represents only a small fraction of the billions of dollars misappropriated from 1MDB, according to lawsuits filed in the USA courts by the Department of Justice which investigated the scandal.

The attorney general at the time cleared Mr Najib of wrongdoing, and said that the money had been a donation from the Saudi royal family.

On Tuesday, a luxury yacht that was allegedly procured using stolen money from 1MDB was returned to the Malaysian government.

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