Malaysia news: Najib Razak arrested over 1MDB corruption
GETTY Najib Razak has been arrested for corruption
The former leader has been accused of stealing £517 million from the state development fund 1MDB, which he set up in 2009. The 64-year-old has been arrested in Kuala Lumpa over his links to the investment fund and faces three counts of criminal breach of trust and one count of abuse of power. Mr Razak, who was the country’s leader from 2009 to May of this year, has been released on bail after pleading not guilty to all counts.
GETTY Najib only stopped leading the country two months ago
I have not had a chance to defend myself Najib
Anti-corruption officers arrived at his house in four unmarked cars and escorted the former PM to the Malaysian Anti-Corruption Commission. Mr Razak set up 1MDB in 2009 in a bid to turn the capital Kuala Lumpur into a financial hub and boost the economy through investments. However, the Wall Street Journal revealed that there was a connection between the fund and Mr Razak’s personal bank accounts.
It is also being investigated in six countries for alleged money laundering. The US Department of Justice has alleged that £3.4 million from 1MDB was laundered through a complex web of transactions and shell companies. He spent the night in jail after he was arrested by anti-corruption authorities. He has told the public not to believe the reports saying: “I have not had a chance to defend myself.”
GETTY Najib could face 20 years behind bars if found guilty
There have been several raids to Mr Razak’s properties by the authorities and police have said they have recovered millions of pounds worth of luxury goods and cash from a raid in June. The legislator Lim Kit Siang said Mr Razak’s arrest had been expected. He said: “Najib has to answer the allegations. “It is long delayed as the scandal has turned Malaysia into a global kleptocracy country.”