Malaysia’s ex-PM Najib Razak arrested, to face charges over US$628 million linked to 1MDB
Najib will face ‘several charges’, some of which will relate to the transfer of 2.6 billion ringgit into his account
Malaysia’s toppled leader Najib Razak was arrested on Wednesday and will be charged over allegations that US$628 million linked to state investment fund 1MDB ended up in his personal bank accounts, officials said.
Allegations that Najib and his cronies looted huge sums from the investment vehicle were a major factor in the shock defeat of his long-ruling coalition in elections in May, at the hands of a reformist alliance headed by Mahathir Mohamad.
Mahathir, 93, in his second stint as premier after coming out of retirement to take on his ex-protégé Najib, has reopened investigations into 1MDB that were shut down by the former government, and vowed to bring Najib to justice.
Since losing power, Najib has already been arrested and hit with seven charges related to claims he pocketed some US$10 million from a former unit of 1MDB.
However his arrest Wednesday was more significant as it related to a central allegation in the long-running scandal – that huge sums from the fund flowed into his bank accounts before a hotly contested election in 2013.