Former Malaysian PM questioned again over 1MDB fund
Former Malaysian Prime Minister Najib Razak was questioned again by the Malaysian Anti-Corruption Commission (MACC) on October 16 on what related to the scandal-hit state fund 1Malaysia Development Berhad (1MDB).
Former Malaysian Prime Minister Najib Razak on the way to the Kuala Lumpur high court (Photo: EPA/VNA)Kuala Lumpur (VNA) – Former Malaysian Prime Minister Najib Razak was questioned again by the Malaysian Anti-Corruption Commission (MACC) on October 16 on what related to the scandal-hit state fund 1Malaysia Development Berhad (1MDB).
In September, Najib was charged with 25 counts of corruption and money laundering involving the sum of 2.3 billion ringgit (556.3 million USD) embezzled from the 1MDB. However, he denied all the charges.
Najib founded the 1MDB investment fund in 2009, supposedly to serve Malaysia’s development through global partnerships and foreign direct investment.
However, it became the centre of a money laundering scandal, allegedly causing losses of up to 3.7 billion USD and leading to probes into the financial markets in several countries such as the US, Switzerland, Singapore, Malaysia and China.
From the raids on several of Najib’s properties in Kuala Lumpur, police seized valuables worth up to 273 million USD.
The former PM was arrested on July 3 for corruption-related charges over his involvement in the multi-billion-dollar 1MBD scandal. He was later released on bail.
He was charged with three counts of criminal breach of trust in his former posts as a prime minister and minister of finance, in association with the transfer of 42 million ringgit, or 10 million USD, from SRC International Sdn Bhd to his personal bank accounts between August 2011 and March 2015. He was later charged with three other counts of money laundering.
Najib will go on trial on February 12, 2019. If convicted, he will face multi-year prison sentences.-VNA
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