Published: Wed, July 04, 2018
Global | By Enrique Rogers

Najib arrested, to be charged tomorrow

Najib arrested, to be charged tomorrow

Malaysian anti-corruption agents arrested former prime minister Najib Razak on Tuesday following a probe into how money went missing from a state fund he founded nearly a decade ago, and authorities said he would be charged in court on Wednesday.

Najib was arrested by Malaysian anti-corruption agents and Malaysian authorities said he will be charged in court on Wednesday.

Malaysia's Immigration Department also slapped a travel ban on the scandal-ridden former prime minister and his wife Rosmah Mansor.

Razak is the subject of a corruption investigation after billions of dollars went missing from a state investment fund that he set up.

Since the election loss Najib has been banned from leaving the country and has found himself at the centre of a widening graft probe.

Mr Najib and his cronies were accused of plundering billions of dollars from the 1MDB sovereign wealth fund to buy everything from United States real estate to artworks.

According to an investigation by the Wall Street Journal, US$10.6 million (S$14.5 million) originating from SRC was transferred to Mr Najib's personal bank accounts, just one small part of hundreds of millions of dollars from 1MDB that allegedly ended up in his accounts.

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The new government has reopened investigations into 1MDB that were stifled under Najib's rule.

Last week police said they had seized luxury handbags, jewelry, cash and goods from six properties linked to the former leader, that were believed to be worth more than $225 million.

Earlier on Tuesday, Malaysia's anti-corruption agency questioned Riza Aziz, the stepson of Najib and a Hollywood film producer.

Zahid, who was recently elected Umno president, said he has confidence that the law will clear the air over cases linked to Najib. That includes real estate, art and proceeds from "The Wolf of Wall Street", which was directed by Martin Scorsese and starred Leonardo DiCaprio.

Malaysia's 1MDB task force is moving quickly to map the extent of wrongdoing at the troubled state fund, freezing more than 400 bank accounts involving 1.1 billion ringgit ($272 million) and issuing arrest warrants, including for Riza's friend Low Taek Jho.

Red Granite agreed in March to pay the U.S. government $60m to settle claims it benefited from the 1MDB scandal.

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