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Najib pleads not guilty to money laundering

10 August, 2018, 09:24 | Author: Lucille Rivera
  • Malaysia's ex-PM Najib pleads not guilty to money laundering

Former prime minister Najib Razak will face fresh charges today over money laundering as he makes his second appearance in a Malaysian court since he was toppled from power in May.

The former Prime Minister of Malaysia Najib Razak charged with three counts of money laundering by anti-corruption agency investigating into the multi-billion dollar 1MDB scandal.

In a packed courtroom, the three new charges were read out to Najib.

Last month, Najib was arrested and charged with abuse of power and criminal breach of trust following a probe into SRC International.

Local newspapers said the charges carry a punishment of up to 15 years' prison and a fine of up to five times the monetary amount involved.

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Najib was charged at the Sessions Court this morning under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act for receiving RM42 million, allegedly from unlawful activities, in his personal bank account.

Former Prime Minister Najib Razak talks to a member of the Malaysian parliament
Former Prime Minister Najib Razak talks to a member of the Malaysian parliament

Najib, 65, pleaded not guilty before High Court judge Datuk Azman Abdullah.

He previously denied the other four charges against him. That time he pleaded not guilty to the charges and was released on bail.

Najib, who has consistently denied any wrongdoing, and his allies are accused of plundering billions of dollars from 1MDB to buy everything from USA real estate to artworks.

In July, the police said they had seized $225 million in luxury handbags, jewellery, cash and goods from six properties linked to the former leader.

The new government reopened the investigations stifled under Mr Najib's rule and barred him and his wife from leaving the country.

SRC, created in 2011 by Najib's government to pursue overseas investment in energy resources, was a unit of 1MDB until it was moved to the finance ministry in 2012.

Money allegedly siphoned off from SRC represents only a small fraction of the billions of dollars the US Department of Justice has said was misappropriated from 1MDB. Malaysian financier Low Taek Jho (better known as Jho Low) allegedly bought the yacht using funds stolen from 1MDB.

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