Several 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 National Organisation (UMNO), the party of former Malaysian Prime Minister Najib Razak, have been frozen.
The information was revealed on June 29 by the special task force which is investigating the scandal surrounding the state development fund 1Malaysia Development Berhad (1MDB).
In a statement, the force confirmed that dozens of bank accounts of individuals and organisations, including UMNO, some other political parties and relevant companies, which were believed to have links with the misappropriated fund, have been frozen.
1MDB is an investment fund formed by Najib in 2009 with an aim to serve the country’s socio-economic development. The fund is the subject of a massive money-laundering probe in a host of countries, including the United States, Switzerland and Singapore.
Najib was accused for the loss of 3.7 billion USD in transactions with other countries through the 1MDB. However, the fund representative and Najib repeatedly rejected the accusation.
Najib resigned as chairman of UMNO and the Barisan Nasional (BN) coalition after the BN suffered defeat in the general election in May. The coalition won only 79 seats of the parliament's 222 seats, while Mahathir Mohamad's Pakatan Harapan (PH) won 118.-VNA
