Ex-Malaysian PM charged with abuse of power

Image
IANS Kuala Lumpur
Last Updated : Jul 04 2018 | 10:20 AM IST

Former Malaysian Prime Minister Najib Razak was charged on Wednesday in a court here for his alleged role in the 1MDB scandal, involving billions of dollars being embezzled from a government fund and fraudulently spent around the world.

He was charged with three counts of criminal breach of trust and one count of abuse of power in connection with funds from SRC International, a former subsidiary of state fund 1Malaysia Development Berhad (1MDB), reports Efe news.

The charges carry a maximum term of 20 years in prison.

Najib, 64, was arrested on Tuesday at his residence in the capital, the 1MDB Task Force confirmed.

The former leader, who spent the night in prison, arrived to a media frenzy at the court early in the morning wearing a dark blue suit and a red and blue tie.

His supporters were also waiting for him, holding placards reading "Respect civil rights #freenajib".

The arrest on Tuesday came following an investigation into how billions of dollars went missing from state fund 1MDB, which he founded.

The former leader has been accused of diverting around $681 million to his private accounts from 1MDB.

Najib has denied the allegations, saying the money was a donation from a Saudi prince, and he was cleared by Malaysian authorities while in power.

The case was reopened after Malaysia's change in government in May, and new Prime Minister Mahathir Mohamad banned his predecessor and wife Rosmah Mansor from leaving the country.

Najib and his wife have since testified before the anti-corruption commission. His stepson Riza Aziz also gave a statement at the commission on Tuesday.

Last week, Commercial Crime Investigation Department chief Amar Singh said cash and luxury items taken in May from six properties linked to Najib are worth up to 1.1 billion ringgit ($273 million), describing it as the biggest seizure in Malaysian history.

Six other countries, including the US, Switzerland and Singapore, have opened judicial investigations into the 1MDB scandal.

--IANS

ksk

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 04 2018 | 10:12 AM IST

Next Story