Malaysian fund rejects report it gave PM over USD 1 billion

A Malaysian state investment fund today insisted it did not provide any money to Prime Minister Najib Razak, rejecting a report that more than USD 1 billion was transferred into his personal bank accounts and that most probably come from the fund.
The Wall Street Journal reported today that hundreds of millions of dollars more than previously identified was transferred into Najib's accounts.
The 1MDB investment fund said in a statement said that it has never paid money into Najib's personal accounts.
It accused the Wall Street Journal of not offering evidence to back its claims and relying on anonymous sources.

Malaysia's attorney general said in January that USD 681 million deposited in Najib's accounts was a donation from Saudi Arabia's royal family and involved no wrongdoing by the prime minister.
Meanwhile, prime minister Najib rejected the report.

A statement issued by Najib's office did not comment on the larger amount reported by the newspaper, saying only that "the funds received were a donation from Saudi Arabia."
It accused the newspaper of "relying solely on anonymous sources that may not even exist" and of "choosing to omit key known facts."
"This is unethical and against accepted journalistic practice," the statement said.

The prime minister's office said Malaysian authorities have traveled to Saudi Arabia to review documents and interview members of the royal family and confirmed that it was the source of the money.
Former Malaysian Prime Minister Mahathir Mohamad told reporters earlier today that there must be some truth to the Wall Street Journal's allegations because Najib has not taken any legal action against the newspaper.
Mahathir, a fierce critic of Najib, quit the ruling party yesterday, saying it has been hijacked by Najib to protect his own interests.