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Malaysia arrests ex-PM Razak over USD 628mn scandal

19 September 2018 03:56 pm - 11     - {{hitsCtrl.values.hits}}


Malaysia's anti-graft agency said it arrested former Prime Minister Najib Razak today over the multimillion-dollar looting of a state investment fund and that he will face further charges in court, the Economic Times reported.

The agency said former Prime Minister Najib was detained at its office and will be taken to court on Thursday to face the charges.

He was earlier charged with multiple counts of criminal breach of trust, corruption and money laundering over the scandal at the 1MDB state fund. He has pleaded not guilty.

Those charges involve the transfer of 42 million ringgit ($10.3 million) into his bank accounts from SRC International; a former unit of the 1MDB fund that international investigators say was looted of billions by his associates.

He set up 1MDB when he took power in 2009 for the stated purpose of promoting economic development, but the fund amassed billions in debts and is being investigated in the US and several other countries for alleged cross-border embezzlement and money laundering.

After leaked documents exposed the scandal, he sacked critics in his government, muzzled the media and quashed investigations. Public anger led to the defeat of his long-ruling coalition in May 9 elections and ushered in the first change of power since Malaysia gained independence from Britain in 1957.

The new government reopened the investigations stifled under former Prime Minister Najib's rule and barred him and his wife from leaving the country. Police also seized jewelry and valuables valued at more than 1.1 billion ringgit ($270.2 million) from properties linked to him.

  Comments - 11

  • Mohamed Wednesday, 19 September 2018 04:24 PM

    He should have learned how to hide his funds by the rajapakshes. Who have embezzled, screwed the country completely, put the country into a debt trap.Then come back to the next election and still win the election.

    Sachith Wednesday, 19 September 2018 04:48 PM

    Just our pradeshiyasabha member would be enough.

    Labby Wednesday, 19 September 2018 04:24 PM

    We had bigger looters but even after 3 years we are still unable to bring anyone to court.

    Raj Wednesday, 19 September 2018 04:26 PM

    This will never happen in Sri Lanka. instead of that we will be re-electing them to loot the balance money in the country. what a stupid people are we ....... ?????

    Patriot Wednesday, 19 September 2018 05:25 PM

    It will never happen in Sri Lanka just because top to bottom are all corrupted including any ruling party of past , present or future.

    Sofia Wednesday, 19 September 2018 04:26 PM

    This is ACTION in capitals within months, while we here are covering up scandals, protecting culprits and preventing arrests of criminals after 3.5 years.

    Zub Wednesday, 19 September 2018 04:27 PM

    This is the way to go about Sri Lanka should learn from this. Justice is so swift.

    robbert Wednesday, 19 September 2018 04:37 PM

    In srilanka why Prez silent on Presidential commission report about before 2015 corruptions. Sirisena has shown 2 books. one is after 2015 bond scam. Its related 2 persons are now in custody. But why he hide and protect JO robbers?

    Citizen Perera Wednesday, 19 September 2018 04:49 PM

    He should have consulted rajapakshas....

    Upul Wednesday, 19 September 2018 04:57 PM

    This is what you call "Real Justice" which we lack in Srilanka. When is this going to happen in SL is the million dollar question

    Dee Wednesday, 19 September 2018 05:11 PM

    Malaysian people are so much like us. For sure they will vote him back into power in the next election!

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