Former Malaysian PM’s bank account unfrozen
Former Malaysian Prime Minister Najib Razak’s bank account is no longer frozen, said Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Azam Baki.
Former Malaysian Prime Minister Najib Razak. (Photo: Reuters)Kuala Lumpur (VNA) – Former Malaysian Prime Minister Najib Razak’s bank account is no longer frozen, said Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Azam Baki.
The decision to unfreeze Najib’s personal account was made after the MACC found it has no relation with its investigation into the 1Malaysia Development Berhad (1MDB) scandal, the Malaysia-based News Strait Times quoted him as saying.
The MACC also discovered that the account, which was unfrozen on July 16, has no links to SRC International Sdn Bhd (SRC), 1MDB’s subsidiary, he said, adding that the bank accounts owned by the former PM’s children were also unfrozen.
On July 2, the MACC announced it had frozen 408 bank accounts with a total sum of 1.1 billion ringgit (272 million USD) as part of its investigation into 1MDB. This action was carried out from June 26-29, involving 81 people and 55 companies.
Former Malaysian PM Najib Razak was arrested on July 3 for corruption-related charges over his involvement in the multi-billion-dollar 1MBD scandal.
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 to his personal bank accounts between August 2011 and March 2015. He also faced one count of corruption.
Each count carries a fine and a sentence of up to 20 years in prison. However, he pleaded not guilty to all charges at the court.
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. His trial is scheduled to begin in February next year.-VNA
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