Malaysia’s ex-PM hit with more charges in 1MDB scandal – trial begins on Feb. 12
Malaysia’s former prime minister Najib Razak has been charged with three more counts of money laundering amounting to $11.6 million. He pleaded not guilty after the charges were read out to him before Sessions Court judge Azman Ahmad on February 8.
According to the charge sheets, Najib is accused of being involved in money laundering in his three AmPrivate Banking accounts. The court allowed a personal bond for Najib on all the three charges.
The former premier faces dozens of criminal charges linked to scandal-ridden state fund 1Malaysia Development Berhad (1MDB), besides money laundering allegations of criminal breach of trust and abuse of power. He has denied any wrongdoing. His corruption trial is set to begin on February 12.
According to the US Department of Justice, $4.5 billion disappeared between 2009 and 2015 from 1MDB. The money passed through a maze of institutions and accounts in the Middle East, the Caribbean and the Seychelles. It was frittered away on property, parties, gems, art, private jets and a superyacht. It helped fund a film on scamming, “The Wolf of Wall Street”.
The mastermind behind the fraud was allegedly Jho Low, a Malaysian financier. But more than $600 million ended up in Najib’s personal bank accounts, of which he said they were a gift, since returned, from an unnamed Saudi royal. Police also found nearly $300 million worth of goods and cash at properties linked to Najib soon after the May 2018 election.
Malaysia's former prime minister Najib Razak has been charged with three more counts of money laundering amounting to $11.6 million. He pleaded not guilty after the charges were read out to him before Sessions Court judge Azman Ahmad on February 8. According to the charge sheets, Najib is accused of being involved in money laundering in his three AmPrivate Banking accounts. The court allowed a personal bond for Najib on all the three charges. The former premier faces dozens of criminal charges linked to scandal-ridden state fund 1Malaysia Development Berhad (1MDB), besides money laundering allegations of criminal breach of trust...
Malaysia’s former prime minister Najib Razak has been charged with three more counts of money laundering amounting to $11.6 million. He pleaded not guilty after the charges were read out to him before Sessions Court judge Azman Ahmad on February 8.
According to the charge sheets, Najib is accused of being involved in money laundering in his three AmPrivate Banking accounts. The court allowed a personal bond for Najib on all the three charges.
The former premier faces dozens of criminal charges linked to scandal-ridden state fund 1Malaysia Development Berhad (1MDB), besides money laundering allegations of criminal breach of trust and abuse of power. He has denied any wrongdoing. His corruption trial is set to begin on February 12.
According to the US Department of Justice, $4.5 billion disappeared between 2009 and 2015 from 1MDB. The money passed through a maze of institutions and accounts in the Middle East, the Caribbean and the Seychelles. It was frittered away on property, parties, gems, art, private jets and a superyacht. It helped fund a film on scamming, “The Wolf of Wall Street”.
The mastermind behind the fraud was allegedly Jho Low, a Malaysian financier. But more than $600 million ended up in Najib’s personal bank accounts, of which he said they were a gift, since returned, from an unnamed Saudi royal. Police also found nearly $300 million worth of goods and cash at properties linked to Najib soon after the May 2018 election.
