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Tashny Sukumaran

Bhavan Jaipragas

Legal pressures on Malaysia’s disgraced former leader Najib Razak deepened sharply on Wednesday as prosecutors brought fresh charges against him for his alleged links to the multibillion-dollar financial scandal at the 1MDB state fund.
Already facing four criminal charges over the case, Najib, 65, was charged in the Kuala Lumpur High Court Complex under an anti-money-laundering act that the ex-prime minister had toughened with stiffer penalties in 2014.


Dressed in a dark blue suit and wearing a calm demeanour, Najib pleaded not guilty to three counts of money laundering. The former premier, currently out on bail for the first tranche of charges, did not have to post a fresh bond.
High Court Judge Mohamad Nazlan Ghazali said trial dates will be set on Friday.
Najib stands accused of receiving proceeds totalling 42 million ringgit (US$10 million) from “unlawful activities” on three occasions, according to the new charge sheets.

Online, Malaysians displayed their continued astonishment at the sight of their former prime minister appearing in court for an arraignment for the second time in two months. The event was beamed live on Facebook by news outlets.
Najib’s latest money laundering charges each carry a maximum sentence of 15 years in jail and a fine.
The four charges brought against him in July – three counts of criminal breach of trust and one count of abuse of power – each carry a maximum 20-year jail sentence.
1MDB case must be watertight, says Malaysia’s Mahathir
All the charges are linked to SRC International, a former subsidiary of the 1MDB state fund founded by Najib.
Some US$4.5 billion is alleged to have been misappropriated from the fund during Najib’s nine-year tenure as prime minister.
The latest development comes just a day short of the three-month mark of the former leader’s defeat at the May 9 general election by his one-time mentor Mahathir Mohamad.

Since coming to power, 93-year-old Mahathir’s government has moved at a swift pace to investigate Najib’s alleged involvement in the 1MDB scandal, roping in help from authorities in various countries including the United States, Singapore and Switzerland.
Najib denies any wrongdoing, and has accused Mahathir of waging a campaign of “political revenge” against him following the election result.
Mahathir in turn has said due process is being followed by authorities probing the case.
EQUANIMITY SEIZURE
Najib’s latest appearance in court follows another major development in the new government’s pursuit of assets that are believed to be linked to the 1MDB scandal – its official seizure of a US$250 million super yacht.
The Cayman Island-flagged vessel Equanimity is alleged by US prosecutors to have been bought by Malaysian businessman Low Taek Jho or “Jho Low”.

The yacht was first seized by Indonesian authorities in February, and was handed over to Malaysia on Monday.
US prosecutors say it is among some US$1.7 billion of assets bought with looted 1MDB funds.
Low is a fugitive, with arrest warrants for him in Singapore and Malaysia over his alleged links to the 1MDB scandal.


In a statement after Monday’s seizure, Low said through his US-based lawyer that the handover of the vessel was an “illegal act”.
The Wall Street Journal – which has tracked the 1MDB scandal closely since the scandal became public in 2015 – last week quoted sources as saying Low was now living in Thailand and China.
Like Najib, Low denies any wrongdoing.
Is Hong Kong’s mystery yacht linked to Jho Low of 1MDB fame?
While he has said he is ready to help with ongoing investigations, he has given no indication as to why he has yet to return to Malaysia for that purpose.
Finance Minister Lim Guan Eng meanwhile has said the yacht is likely to be sold “so that at least the people of Malaysia can get something back”.
The Equanimity – clad in marble and gold leaf, and fitted with a swimming pool, cinema, spa and helipad – has been used by Mahathir and his allies to illustrate to the public the scale of decadence they claim was funded by taxpayer dollars plundered during the Najib era.
Najib, asked about the yacht’s seizure, told reporters: “I have no knowledge of it. I have not been on board. I did not know about it until it came out in the press.”


Former Malaysian PM Ismail Sabri finally meets anti-corruption officials

Malaysia’s corruption carousel: here we go again, with Ismail Sabri third ex-PM implicated

Malaysians appalled by another corruption probe involving an ex-prime minister

What to know about Najib’s house arrest bid in Malaysia and the existence of a royal ‘decree’

Malaysia 1MDB scandal

Najib Razak charged with money laundering as 1MDB case deepens

In twist of irony, latest charges facing Malaysia’s disgraced ex-leader come under an act that he himself strengthened in 2014

(180716) -- KUALA LUMPUR, July 16, 2018 (Xinhua) -- Malaysian Prime Minister Mahathir Mohamad swears in as parliament member in Kuala Lumpur, on July 16, 2018. Malaysia's Members of Parliament were sworn in on Monday, as the former ruling coalition Barisan Nasional, becoming the opposition for the first time, staged a walkout in protest of the selection of the Parliament Speaker. (Xinhua/Chong Voon Chung) (zhf)

NEW YORK, NY - OCTOBER 20: Gigi Hadid and Mr. Jho Low attend Angel Ball 2014 hosted by Gabrielle's Angel Foundation at Cipriani Wall Street on October 20, 2014 in New York City. Dimitrios Kambouris/Getty Images for Gabrielle's Angel Foundation/AFP

Najib Razak arrives at court. Photo: AFP

Malaysia's former prime minister Najib Razak (C) arrives for a court appearance at the Duta court complex in Kuala Lumpur on August 8, 2018. Malaysia's disgraced ex-leader Najib Razak faces new charges in court on August 8 under anti-money laundering laws in a case linked to a multi-billion-dollar graft scandal, authorities said. / AFP PHOTO / MOHD RASFAN

Equanimity, the luxury US$250 million yacht that belonged to Jho Low, a flamboyant international financier who allegedly played a central role in the 1MDB controversy that has engulfed Malaysian former prime minister Najib Razak. Photo: AFP

US moves to suspend legal bid for 1MDB luxury yacht as Malaysia takes possession

Luxury yacht ‘Equanimity’ anchored in the waters off Batam Island, Indonesia. Photo: AP

Interview with Jho Low, CEO of Jynwel Capitial Limited, at his office in Central. 11MAR15

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In twist of irony, latest charges facing Malaysia’s disgraced ex-leader come under an act that he himself strengthened in 2014


In twist of irony, latest charges facing Malaysia’s disgraced ex-leader come under an act that he himself strengthened in 2014.


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