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Malaysia freezes bank accounts of UMNO

Several bank accounts of the United Malays National Organisation (UMNO), the party of former Malaysian Prime Minister Najib Razak, have been frozen.
Malaysia freezes bank accounts of UMNO ảnh 1Several bank accounts of the United Malays National Organisation (UMNO), the party of former Malaysian Prime Minister Najib Razak, have been frozen (Photo: Reuters)

Hanoi (VNA) – Several bank accounts of the United Malays NationalOrganisation (UMNO), the party of former Malaysian Prime Minister Najib Razak,have been frozen.

Theinformation was revealed on June 29 by the special task force which is investigatingthe scandal surrounding the state development fund 1Malaysia Development Berhad(1MDB).

In astatement, the force confirmed that dozens of bank accounts of individuals andorganisations, including UMNO, some other political parties and relevantcompanies, which were believed to have links with the misappropriated fund,have been frozen.

1MDBis an investment fund formed by Najib in 2009 with an aim to serve thecountry’s socio-economic development. The fund is the subject of a massivemoney-laundering probe in a host of countries, including the United States,Switzerland and Singapore.

Najib wasaccused for the loss of 3.7 billion USD in transactions with other countriesthrough the 1MDB. However, the fund representative and Najib repeatedlyrejected the accusation.

Najibresigned as chairman of UMNO and the Barisan Nasional (BN) coalition after theBN suffered defeat in the general election in May. The coalition won only 79seats of the parliament's 222 seats, while Mahathir Mohamad's Pakatan Harapan(PH) won 118.-VNA

VNA
#Malaysia #United Malays National Organisation (UMNO) #political party #bank accounts #former Malaysian Prime Minister Najib Razak #1Malaysia Development Berhad #1MDB development fund #money-laundering probe #vietnamplus #Vietnam News Agency Malaysia
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