Malaysian prosecutors have levied charges against former prime minister, Najib Razak, in connection with the state fund 1MDB.
Najib was arrested on Tuesday in connection with a probe into the alleged $4.5 billion corruption scheme at the state fund. He faces three counts of criminal breach of trust, which carry a punishment of up to 20 years in jail and whipping, the «MalayMail» reports from charges read out by a court official on Wednesday.
He also faces one charge under the anti-corruption act, which calls for a prison sentence of up to 20 years and a fine of no less than five times the value of misappropriated funds.
Lack of Funds
Najib pleaded not guilty to all four charges and claimed trial before judge at the High Court. The prosecution, led by by Attorney-General Tommy Thomas, asked for bail to be set at 1 million Malaysian ringgit ($247,068) per charge, amounting to a total of 4 million ringgit.
Najib’s family claimed it would only be able to put up 500,000 ringgit as their bank accounts have been frozen by the 1MDB task force. The court later set bail at 1 million ringgit with two sureties. The former prime minister, who was reportedly prevented from leaving the country following his shock election defeat two months ago, was also ordered to surrender his passports.
Totally Responsible
Najib said that none of the investigations into the accusations directed at him and his family have proven conclusive so far, in a pre-recorded video message released on his Twitter page on Tuesday.
Malaysian Prime Minister Mahathir Mohamad, who has swapped out top officials since beating Najib, has called his predecessor «totally responsible for 1MDB», noting that the former PM's signature graces a series of 1MDB deals.
A Great Day
Former PetroSaudi International director Xavier Andre Justo, who initially exposed the 1MDB scandal, said he feels vindicated over the arrest of the former prime minister.
«Najib’s arrest is a great day for the country and for justice,» he told Malaysian publication «The Star».
