Malaysia’s Najib Razak charged with corruption

Malaysia’s Najib Razak charged with corruption

Former Malaysian Prime Minister Najib Razak has been charged in a Malaysian lower court with three counts of criminal breach of trust stemming from the corruption scandal at a state investment fund.

Members of the press gather outside of the Kuala Lumpur Court complex in Putrajaya July 4, 2018.

In this May 24 photo, former Malaysian prime minister Najib Razak speaks as he leaves the Malaysian Anti-Corruption Commission Office in Kuala Lumpur.

Local media reports said some of the accounts belonged to Najib's political party.

Since his ouster, Najib has been barred from leaving Malaysia and questioned by the government's anti-graft agency along with his wife, Rosmah Mansor.

Najib has been investigated over suspicions that he may have siphoned off monies linked to a state investment fund called 1MDB.

The settlement that Mr Riza's Red Granite Pictures reached addressed one among two dozen forfeiture lawsuits filed by the USA against US$1.7 billion of assets that were allegedly acquired through money diverted from 1MDB.


Mahathir Mohamad, Najib's 92-year-old successor who came out of retirement to run for election, told Reuters last month that there was "an nearly ideal case" against the former prime minister. "I have not had a chance to defend myself", he said. "Let investigations be carried out", he said.

Najib, 64, suffered a shock loss at the general election in May, the first change of government since Malaysia gained independence from Britain in 1957.

SRC is the initial focus of the Malaysian investigators as all the suspicious transactions involving the firm were made through Malaysian entities, unlike other 1MDB-related transactions that went through foreign banks and companies.

Bridget Welsh, a South-East Asia expert at John Cabot University in Rome, said Mr Najib's arrest was the "inevitable outcome" after he lost power.

But Najib also reportedly received $680 million from 1MDB itself, a claim that started a financial scandal in 2015 which eventually led to this year's election defeat.

SRC International was a subsidiary of 1MDB, and was placed under the jurisdiction of the Finance Ministry in 2012.

Raids on homes linked to Najib in May have unearthed cash, luxury good and valuables worth more than RM1 billion.

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