Malaysia ex-PM Najib faces salvo of charges over $681M bank balance - News Summed Up

Malaysia ex-PM Najib faces salvo of charges over $681M bank balance


KUALA LUMPUR – Malaysia’s ex-leader Najib Razak arrived in court on Thursday to face a barrage of charges relating to $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 Wednesday by officials probing claims the former prime minister and his cronies looted billions of dollars from state fund 1MDB in an audacious fraud. ADVERTISEMENTPolice said 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. But the latest charges are more significant and relate to a key episode in the 1MDB scandal. But as allegations surrounding the fund multiplied, Najib became increasingly authoritarian, jailing political opponents and introducing laws that critics said were aimed at stifling dissent.


Source: Philippine Daily Inquirer September 20, 2018 07:07 UTC



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