NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / World News / Malaysia ex-PM faces barrage of charges over $681mn bank balance
    Next Article
    Malaysia ex-PM faces barrage of charges over $681mn bank balance

    Malaysia ex-PM faces barrage of charges over $681mn bank balance

    By Anjana Raghav
    Sep 21, 2018
    11:48 am

    What's the story

    Malaysia's ex-leader Najib Razak arrived in court yesterday to face a barrage of charges relating to $681mn of state funds that allegedly ended up in his personal bank account.

    Razak, who suffered a shock election defeat in May, was arrested Wednesday by officials probing claims the former Prime Minister and his cronies looted billions of dollars from state fund 1MDB in an audacious fraud.

    Money-laundering

    Razak will face 21 money-laundering charges: Police

    Police say Razak will face 21 money-laundering charges related to the mysterious transfer of huge sums into his personal bank account, a key episode in the long-running scandal.

    Razak has already been arrested twice and hit with several counts related to 1MDB since losing power, but observers say the latest charges represent a major step forward in efforts to bring him to justice.

    Information

    Razak, his cronies pilfered huge sums from investment vehicle

    Allegations that Razak and his cronies pilfered huge sums from the investment vehicle and spent them on everything from high-end real estate to artwork were a major factor in the defeat of his long-ruling coalition to a reformist alliance headed by Mahathir Mohamad.

    Investigation

    Mohamad has ramped up probes in 1MDB scandal

    Mohamad, 93, who is in his second stint as premier after coming out of retirement to take on scandal-mired Razak, has ramped up probes in the 1MDB scandal and vowed to have the ex-leader prosecuted.

    The 64-year-old Razak was initially detained Wednesday by the Malaysian Anti-Corruption Commission over the alleged bank transfers, before facing further questioning by police yesterday morning.

    Charges

    Charges against Razak: 9 counts of receiving illegal money

    Deputy National Police Chief Noor Rashid Ibrahim said in a statement that "as many as 21 charges involving $681 million have been prepared".

    The charges include "nine counts of receiving illegal money, five counts of using illegal money and seven counts of transferring illegal money to other entities," he said.

    However, the police statement did not mention 1MDB.

    Information

    Allegedly, Razak pocketed $10 million from former unit of 1MDB

    Razak has already been charged with money-laundering, criminal breach of trust and abusing his position over claims he pocketed some $10 million from a former unit of 1MDB. He denies any wrongdoing. But the latest charges relate to a key episode in the 1MDB scandal.

    First reports

    Reports related to money-laundering charges against Razak surfaced in 2015

    When reports surfaced in 2015 that huge sums from 1MDB flowed into Razak's bank accounts before a hotly contested election, it dramatically ratcheted up pressure on the leader and his inner circle over the scandal.

    The Attorney General later cleared Razak of any wrongdoing, saying the money was a personal donation from the Saudi royal family and closed down domestic investigations.

    About 1MDB

    1MDB was set up in 2009 and overseen by Razak

    As allegations surrounding the 1MDB fund multiplied, Razak became increasingly authoritarian, jailing political opponents, and introducing laws that critics said were aimed at stifling dissent.

    1MDB was set up in 2009 and overseen by Razak, with the purported aim of promoting economic development in Malaysia, but accusations quickly mounted the fund was a vehicle for Razak and his cronies to loot state coffers.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Malaysia
    Najib Razak
    Prime Minister

    Latest

    UPI goes down: PhonePe, GPay users unable to make payments Paytm
    "Incredible innings': Novak Djokovic reacts to Virat Kohli's Test retirement Novak Djokovic
    The universe will perish much sooner than we thought Space News
    Is a documentary being made on Ram Charan? Madame Tussauds

    Malaysia

    300 endangered tortoises worth $300,000 seized at Kuala Lumpur airport Kuala Lumpur
    Who are the women accused of killing Kim Jong-nam? North Korea
    Malaysia amends anti-LGBT sex education competition following criticism Education
    MDMK chief Vaiko detained in Malaysia over alleged LTTE links Sri Lanka

    Najib Razak

    Tragedy: Fire at Malaysian school kills 23 students, 2 teachers Malaysia
    Media censorship fears rise after Malaysia's proposed fake news law Malaysia
    Malaysia polls: Scandal-hit PM Najib Razak faces ex-mentor Mahathir Mohamad Malaysia
    Malaysia's Mahathir Mohamad to become world's oldest Prime Minister Malaysia

    Prime Minister

    Independent legislators would withdraw support if Fadnavis is replaced: MLA Narendra Modi
    Pakistan: Imran says will live humbly, not in official PM-residence Pakistan News
    Imran Khan will be sworn-in as Pakistan-PM before Aug-14: PTI Imran Khan (Pakistan PM)
    PM Modi lauds ragpicker's son who made it into AIIMS Madhya Pradesh
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025