Ex- Malaysian PM Najib Razak accused of corruption

Kuala Lumpur, July 4: Former Malaysian Prime Minister Najib Razak was charged with corruption today for allegedly accepting millions of dollars in bribe money. He faces three counts of criminal breach of trust and one count of abuse of power. Najib has been accused of pocketing 10.4 million US dollar from the state development fund 1MDB. He has denied wrongdoing. Najib pleaded not guilty to the charges after they were read to him in court. Each charge carries a maximum penalty of 20 years' jail.

 

A new investigation began after his shock election defeat in May. Najib was arrested by anti-corruption authorities on Tuesday and spent the night in detention. 1MDB, set up by Najib in 2009, was meant to turn the capital, Kuala Lumpur, into a financial hub and boost the economy through strategic investments.

He was accused of committing the offense at AmIslamic Bank at Jalan Raja Chulan between Dec 24 and Dec 29, 2014.

For the second time, he was accused of committing criminal breach of trust over SRC International funds totaling RM5 million while he was a prime minister and finance minister. The offense was also committed at AmIslamic Bank, between Dec 24 and Dec 29, 2014.

For the third time, Najib was accused of committing criminal breach of trust involving RM10 million between Feb 10 and Mar 2, 2015, at the same place.

For the fourth count, Najib was accused of using his position as a prime minister and finance minister of Malaysia to commit bribery involving RM42 million when he was involved in a decision on behalf of the government to provide government guarantees for loans from the Retirement Fund Incorporated Fund to SRC International amounting to RM4 billion.