Malaysian prosecutors on Thursday charged former Prime Minister Najib Razak on 25 counts, including charges related to money laundering and abuse of power, in the corruption scandal related to the state-owned investment fund 1 Malaysia Development Berhad (1MDB).
Najib, who was arrested on Wednesday, pleaded not guilty to the four charges of corruption and 21 charges of money laundering, reports Efe news.
The 65-year-old leader was the Prime Minister of Malaysia from 2009 until May this year, during which he established and headed the 1MDB fund.
Najib was released on bail on July 4 after he was formally charged with criminal breach of trust and abuse of power in connection with funds from SRC International, a former subsidiary of IMDB.
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 Arabian prince, and he was cleared by Malaysian authorities while in power.
The case was reopened in May after Najib lost the election in a stunning defeat to Mahathir Mohamad who has banned him and his wife Rosmah Mansor from leaving the country.
Six other nations, including the US, Switzerland and Singapore, have opened judicial investigations into the 1MDB scandal.
--IANS
ksk/bg
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