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Malaysia's ex-PM Najib charged with money laundering

Malaysia's ex-PM Najib charged with money laundering

The charges were related to accusations that 42 million ringgit (about USA $10.3 million) was illegally diverted into Najib's personal bank accounts from SRC International, an energy company that used to be a subsidiary of the state fund 1MDB.

FORMER prime minister Najib Razak now faces three new charges of money laundering in relation to a former subsidiary of 1Malaysia Development Bhd (1MDB). This morning Razak reached the courthouse accompanied by his children, he looked calm.

Prime Minister Mahathir Mohamad campaigned during the 14th General Elections in Malaysia in May on the basis of "catching Dato Seri Najib Razak" who was then accused of syphoning billions from the 1mdb.

Last month Najib pleaded not guilty to abuse of power and three counts of criminal breach of trust, just two months after the allegation led to his stunning election defeat.

When asked if he thinks the case was a witch hunt, Shafee said: "My client and I hope that's not the case".

Reopening the investigations into 1MDB after Najib lost power, Malaysian anti-graft officers have revealed how their earlier investigations were obstructed by Najib's government.

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His case was transferred to another court, where he entered not guilty pleas, meaning he will stand trial. But reports emerged later that billions of United States dollars were misappropriated.

Najib told reporters he had no knowledge that Equanimity was purchased using 1MDB funds.

The charges are related to 42m ringgit (US$10m).

Lawsuits filed in U.S. courts by the DOJ allege that an estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates.

He claimed trial to three counts of money laundering at the High Court in Putrajaya, in fresh charges of receiving RM27 million and RM10 million which were wired to his bank accounts on three separate transactions. On Tuesday, a luxury yacht allegedly paid for with about $250m stolen from 1MDB arrived outside Kuala Lumpur after being handed over by Indonesian authorities, who impounded it following a request for the US Department of Justice.