Published: Wed, September 19, 2018

Najib arrested, to face charges in 1MDB case

Najib arrested, to face charges in 1MDB case

Najib was arrested on Wednesday in connection with a deposit of 2.6 billion ringgit ($627.79 million) into his personal account and will be taken to court on Thursday, the Malaysian Anti-Corruption Commission (MACC) said in a statement. "I am of of the view that Najib's arrest was made after the former prime minister provided proofs that the fund came from the Saudi Arabia government and King Abdullah (Abdulaziz's) son (Prince Abdulaziz Al-Saud)", he said.

Najib Razak has been summoned to the Malaysian Anti-Corruption Commission (MACC), ahead of dozens of charges he is likely to face, adding to the existing seven charges linked to his role in the 1MDB saga.

In a statement, the MACC said Mr Najib will face "several charges", some of which relate to the transfer of money into his account, and abuse of power.

In July and August, Najib was slapped with charges of money laundering, criminal breach of trust and abuse of power in relation to 1MDB. He has pleaded not guilty and his trial is due to start next year.

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

Allegations that huge sums were looted from the investment vehicle by Najib and his cronies were a major factor in the shock defeat of his long-ruling coalition at elections in May to a reformist alliance headed by Mahathir Mohamad.

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