Former Malaysian PM Faces New Charge of Money Laundering

No Comment 19 Views

Former Malaysian Prime Minister Najib Razak will face a new charge of money laundering on Wednesday over a multibillion-dollar graft scandal at a state investment fund, the anti-corruption agency said.

Najib in July pleaded not guilty to abuse of power and three counts of criminal breach of trust, just two months after the scandal led to his stunning election defeat.

The charges are related to the transfer of 42 million ringgit ($10.3 million) into his bank accounts from SRC International, a former unit of the 1MDB fund that U.S. investigators say was looted of billions by Najib’s associates. Each charge has a maximum penalty of 20 years in prison.

Read the original article here: seattletimes.com


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions
Learn About RDC