STREAMING NOW: Watch Now

Malaysia court hits former PM Najib with money laundering charges

Malaysia's former prime minister Najib Razak was charged with three counts of money laundering Wednesday, in...

Posted: Aug 8, 2018 11:02 AM
Updated: Aug 8, 2018 11:02 AM

Malaysia's former prime minister Najib Razak was charged with three counts of money laundering Wednesday, in connection with a multi-billion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB).

The charges are connected to the transfer of RM42 million ($10.3 million) from SRC International, a 1MDB subsidiary, to Najib's personal bank accounts, state news agency Bernama said.

Asia

Continents and regions

Crime, law enforcement and corrections

Criminal offenses

Fraud and financial crimes

Malaysia

Money laundering

Southeast Asia

The charges come a month after Najib was charged with three counts of criminal breach of trust and one charge of abuse of power.

Najib, 65, whose government was plagued by scandal, was soundly defeated in a shock election result in May by 93-year-old veteran politician Mahathir Mohamad.

On Wednesday, Najib was accused of receiving three transfers totaling RM42 million -- of RM27 million, RM5 million and RM10 million -- "which were proceeds from unlawful activities," Bernama reported.

No plea for Najib was recorded, according to the news agency.

Last month, Najib was arrested and charged with abuse of power and criminal breach of trust related to the alleged transfer of the same amount of money into his personal bank account from SRC International. He pleaded not guilty to the charges and was released on bail.

Najib has apologized to the Malaysian people, saying, "I have tried my best but I realize that it is not enough... Yes, I am not perfect. I'm just a normal person. But believe me, all these accusations made against my and my family are not true."

On taking office Mahathir reopened an investigation into 1MDB and prevented his former protege Najib and his wife, Rosmah Mansor, from leaving the country.

In July police said they had seized $225 million in luxury handbags, jewelry, cash and goods from six properties linked to the former leader. The goods were seized as part of the investigation into the sprawling scandal related to 1MDB, from which Najib and others are accused of siphoning off billions of dollars.

On Tuesday a luxury yacht that was allegedly procured using stolen money from 1MDB was returned to the Malaysian government.

The yacht, "Equanimity," which was seized by Indonesian authorities in Bali earlier last year, was purchased by Malaysian financier Jho Low in 2014, a close family friend of Najib.

The seizure was requested by the US Justice Department "which asserted ownership of the yacht on behalf of Malaysia and 1MDB because monies belonging to us were used to purchase it."

According to US investigators, Low used misappropriated funds from 1MDB to buy 27 different 18-carat gold necklaces and bracelets for the wife of someone listed in the complaint as "Malaysia Official 1." That official has been widely reported to be Najib.

The US is currently seeking to recover around $540 million misappropriated from the 1MDB fund, with more than $1.7 billion of assets subject to forfeiture under the Kleptocracy Asset Recovery Initiative.

Some of those assets include profits from the Martin Scorsese film "The Wolf of Wall Street," which was financed by a company associated with 1MDB, as well as properties linked to Low and others.

Mahathir told CNN in an exclusive interview last month that his incoming government was shocked by the scale of corruption.

"Most of the top echelons in the government are corrupt," he said.

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 32888

Reported Deaths: 1188
CountyConfirmedDeaths
Hinds259141
DeSoto172418
Madison132635
Jones114049
Neshoba100473
Rankin98213
Harrison96911
Lauderdale92280
Forrest91643
Scott77915
Jackson68917
Copiah62015
Washington61710
Leake58919
Lee56220
Holmes56041
Oktibbeha55227
Wayne54515
Warren53218
Yazoo5236
Lowndes50913
Grenada5067
Leflore50053
Lamar4917
Lincoln48434
Pike45416
Monroe42534
Sunflower4208
Lafayette4094
Covington3755
Attala36523
Panola3646
Bolivar35618
Newton3479
Simpson3453
Adams31518
Tate31011
Pontotoc3046
Marion30012
Chickasaw28719
Claiborne28410
Winston2808
Noxubee2728
Jasper2676
Pearl River26532
Marshall2583
Clay24911
Smith22911
Union21810
Clarke21025
Coahoma2056
Walthall2056
Lawrence1872
Yalobusha1807
Kemper17914
Carroll16811
Humphreys1569
Tallahatchie1454
Calhoun1414
Montgomery1392
Tippah13811
Itawamba1378
Hancock13413
Webster12711
Jefferson Davis1134
Tunica1133
Jefferson1103
Prentiss1103
Greene1059
Amite1043
Wilkinson939
George913
Tishomingo891
Quitman811
Choctaw754
Alcorn742
Perry724
Stone692
Franklin452
Benton420
Sharkey370
Issaquena101
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 46424

Reported Deaths: 1032
CountyConfirmedDeaths
Jefferson5486155
Montgomery4246105
Mobile4219136
Tuscaloosa234644
Marshall177011
Madison15548
Lee143337
Shelby135724
Morgan11285
Walker98525
Baldwin9809
Elmore96215
Dallas9109
Franklin90216
Etowah79013
DeKalb7615
Chambers64327
Autauga63612
Butler63228
Tallapoosa60469
Russell5680
Unassigned52226
Limestone5181
Houston5106
Lauderdale5016
Lowndes47821
Cullman4705
Pike4525
Colbert4266
St. Clair4162
Escambia4118
Calhoun3875
Coffee3863
Covington3727
Bullock36810
Barbour3572
Talladega3237
Marengo31711
Hale31521
Dale3020
Jackson3022
Wilcox2948
Sumter28512
Clarke2836
Winston2663
Chilton2622
Blount2511
Monroe2412
Pickens2386
Marion23613
Conecuh2177
Randolph2169
Macon1999
Choctaw19712
Bibb1961
Greene1868
Perry1791
Henry1363
Crenshaw1253
Washington1187
Lawrence1090
Cherokee1037
Geneva840
Lamar801
Fayette721
Clay692
Coosa591
Cleburne391
Out of AL00
Tupelo
Few Clouds
87° wxIcon
Hi: 88° Lo: 73°
Feels Like: 94°
Columbus
Few Clouds
79° wxIcon
Hi: 79° Lo: 72°
Feels Like: 83°
Oxford
Scattered Clouds
84° wxIcon
Hi: 85° Lo: 71°
Feels Like: 90°
Starkville
Scattered Clouds
75° wxIcon
Hi: 76° Lo: 69°
Feels Like: 75°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather