Saudi royals gave $681mn in Malaysia PM scandal: AG

Image
AFP Kuala Lumpur
Last Updated : Jan 26 2016 | 10:28 AM IST
The Saudi royal family provided a USD 681 million "donation" that has engulfed Malaysian Prime Minister Najib Razak in scandal, his attorney general said today in a statement clearing the premier of graft allegations.
Attorney General Mohamed Apandi Ali said a review of evidence compiled by the country's anti-graft agency showed that the money was a "personal donation from the Saudi royal family", but gave no further details.
Najib has for months fended off accusations that the huge payment made into his personal bank accounts in 2013 was siphoned off from a now-struggling state-owned company that he had launched.
But until now, the source of the money has not been specified, other than claims by Najib's government that it came from unnamed Middle East donors.
"I am satisfied that there is no evidence to show that the donation was a form of gratification given corruptly," Apandi said in a statement after a review of evidence gathered by Malaysia's anti-corruption agency.
"Evidence obtained from the investigation does not show that the donation was given as an inducement or reward for doing, or forbearing to do, anything in relation to his capacity as Prime Minister."
The past fund transfers were revealed last July just as Najib was battling separate allegations that hundreds of millions of dollars were missing from deals involving the state company, 1Malaysia Development Berhad (1MDB).
Najib and 1MDB have strenuously denied any wrongdoing.
But the political opposition and even critics within Najib's ruling party have called for a wide-ranging and independent investigation, accusing the prime minister of sabotaging official probes.
Shortly after the fund movements were revealed, Najib provoked fierce criticism by sacking Malaysia's previous attorney general -- who was investigating the matter -- and installing Apandi, who has ties to the ruling party.
*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: Jan 26 2016 | 10:28 AM IST

Next Story