Former Malaysian PM Najib Razak Arrested Will Face Corruption Charges in 1MDB Case

Former Malaysian PM Najib Razak Arrested Will Face Corruption Charges in 1MDB Case

According to 1 Malaysia Development Berhad (1MDB) which is an anti-corruption agency said that Najib Razak who was the former Malaysian prime minster, will face corruption charges over money allegation taken from a scandal-plagued state fund.

Since Najib lost his post as the prime minister to Mahathir Mohamad in the recent general election which was conducted in May  this year, he has consequently faced strict inspection which was called up by Mahathir over allegations that billions of dollars were stolen from (1MDB)

Najib was allegedly involved in money laundering scandals, abuse of power in relation to (1MDB) and criminal breach of trust. The amount of money which was laundered from funds that were allegedly coming from SRC international summed up to about 42 million ringgits which is equivalent to 10.14 million U.S Dollar.

However, the former prime minister has pleaded to be innocent to all charges and has also constantly been refusing any wrong doing.

Following the Najib charges, it brought his arrest on Wednesday in relation to a deposit of 2.6 billion ringgits ($627.79million) into personal account claimed to belong to him. He will be taken to court on Thursday as said by the Malaysian Anti-corruption commission.

Under a section of Malaysian anti-corruption commission act that deals with using the office or a position for person’s interest, it follows that Najib will face some charges.

Other allegation in civil lawsuit under U.S departments of justice claims that more than $ 4.5 billion was laundered from a complicated web of transactions and shell companies from 1MDB.

Furthermore, department also said that $681 million from foreign exchange rate while carrying out the transaction from 1MDB went to Najib bank account.

However, Najib claimed that the amount of money in his account were donations from countries such as Saudi Arabia and was refunded.

Moreover, more countries are still investigating about the money saga not to mention Singapore among other countries. The court proceedings regarding the money debited will set off on Thursday, being the first to be conducted without the involvement of the SRC.

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