Abrar Hussain:Malaysia
‘s ex-leader Najib Razak faced a barrage of charges in court yesterday regarding $681 million of state funds that allegedly ended up in his personal bank account.
Najib, who suffered a shock election defeat in May, was arrested on Wednesday by officials investigating claims that the former prime minister and his associates looted billions of dollars from state fund 1MDB in an audacious fraud.
Police say he will face 21 money-laundering charges related to the mysterious transfer of huge sums into his personal bank account, a key episode in the long-running scandal. He may also face additional charges under anti-corruption laws. He has already been arrested twice and hit with several counts related to 1MDB since losing power, but observers say the latest charges represent a major step forward in efforts to bring him to justice.
The allegations say that Najib and his associates embezzled huge sums from the investment vehicle and spent them on things like high-end real estate to artwork. The allegations were ultimately a major factor in the defeat of his long-ruling coalition to a reformist alliance headed by Mahathir Mohamad.
Mahathir, 93, who is in his second stint as premier after coming out of retirement to take on scandal-mired Najib, has ramped up probes in the 1MDB scandal and vowed to have the ex-leader prosecuted.
-Source: AFP