Malaysia's former prime minister has been arrested by the country's anti-graft agency in connection to state fund 1MDB, and will face charges for alleged abuse of power.
Former Malaysian prime minister Najib Razak was arrested in connection with state fund 1Malaysia Development Berhad, better known as 1MDB, on Wednesday, specifically involving 2.5 billion Malaysian ringgit ($603 million) found in his personal bank account.
He was taken to custody on Wednesday afternoon at 4.13pm at the headquarters of the Malaysian Anti-Corruption Commission, or MACC, in Putrajaya, according to «The Star». The Royal Malaysia Police will then record Najib's statements, and he will be kept in detention overnight before he is taken to court on Thursday, according to several media reports.
«This is to aid police investigations under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,» the MACC said.
1MDB Charges Pile Up
Najib had released documents on 10 September to support his claim that the 2.6 billion ringgit deposited into his bank account was a donation from Saudi royalty.
The former prime minister is facing seven criminal charges over funds belonging to SRC International – an 1MDB vehicle – totaling 42 million ringgit: Three criminal breach of trust charges, three for money-laundering and one for abuse of power.
Ex-First Lady Next?
Rosmah Mansor, Najib's wife, may soon be charged for her alleged involvement in the $4.5 billion 1MDB graft scheme, as finews.asia reported on Tuesday. Investigators in Kuala Lumpur are reheating a largely dormant investigation into the stealing of 1MDB funds since a change of government in May.
Mansor is unpopular in Malaysia, where she is viewed as a spendthrift with a penchant for high-end Italian and French handbags, ostentatious jewelry, and anti-aging treatments. Recent raids at a luxury Kuala Lumpur condo linked to Najib’s family turned up almost 300 boxes of designer handbags, 114 million Malaysian ringgit ($27.5 million) in cash and jewelry. The family has said the bags and baubles were wedding presents to his daughter.
