Malaysian ex-PM Najib charged with money-laundering

Malaysia's ex-PM Najib pleads not guilty to money laundering

Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) has confirmed that Datuk Seri Najib Tun Razak would be charged again tomorrow (Wednesday).

On July 4, Najib was charged with three counts of criminal breach of trust and one count of using his position for gratification as part of a probe into money missing from 1MDB.

On the three charges, Najib was alleged to have received RM27 million, RM5 million and RM10 million, respectively, which were proceeds from unlawful activities, via Real Time Electronic Transfer of Funds and Securities (Rentas) into two AmIslamic Bank Berhad accounts of his bearing the numbers 2112022011880 and 2112022011906.

Asked if he understood the charges, Najib responded: "I understand".

The new government reopened the investigations stifled under Mr Najib's rule and barred him and his wife from leaving the country.

Investigations into 1MDB have been moving swiftly.

It sailed into the Malaysian port a day after Prime Minister Mahathir Mohamad thanked Indonesian President Joko "Jokowi" Widodo for agreeing to hand it over to Malaysian officials. If found guilty, he may be sentenced to a maximum 15 years in jail for each charge.

Malaysia's ex-PM Najib pleads not guilty to money laundering

Meanwhile, the High Court will hear submissions this Friday on the gag order on the case that was issued earlier and to set trial dates.

"The charges are related to the SRC International case", it said in a statement.

Appearing at a court in Kuala Lumpur, Mr Najib was charged with three counts of money laundering over claims he pocketed 42 million ringgit (Dh37.9m), and pleaded not guilty.

Money allegedly siphoned off from SRC represents only a small fraction of the billions of dollars the US Department of Justice (DOJ) has said was misappropriated from 1MDB.

SRC, created in 2011 by Najib's government to pursue overseas investment in energy resources, was a unit of 1MDB until it was moved to the finance ministry in 2012.

After Mr Najib's election defeat, police seized a vast trove of items - including expensive handbags and jewellery - from properties linked to him with an estimated value of up to $273m.

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