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Malaysia's Prime Prime Minister Najib Razak exits the Kuala Lumpur High Court in August. He was charged with six counts of criminal breach of trust on Wednesday.
Ore Huiying / Getty Images
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Ore Huiying / Getty Images
Malaysia's Prime Prime Minister Najib Razak exits the Kuala Lumpur High Court in August. He was charged with six counts of criminal breach of trust on Wednesday.
Ore Huiying / Getty Images
Former Malaysian Prime Minister Najib Razak has had a total of $ 1.58 billion.
Najib was joined by Irwan Serigar Abdullah, Malaysia's treasury secretary-general, according to Reuters. The two pleaded on Wednesday.
Each of the six counts of najib and irwan comes to jail, according to the Associated Press. The charges also include a whipping penalty; Najib would be free from them as it is above the age of 50.
The six charges are the latest in a nutshell on Najib, who was ousted as prime minister in May when he lost his reelection, ending his party's six-decades of dominance in Malaysian politics. The 65-year-old already faced 32 charges related to money-laundering and bribery, according to Channel NewsAsia.
"Nothing in the charges", said Najib, "Najib reportedly said at a news conference after the court hearing.
Wednesday's charges stem from alleged corruption in Najib's sovereign wealth fund, known as the 1Malaysia Development Berhad or 1MDB.
He created the 1MDB fund in 2009, hoping to obtain international investment. Instead, it was estimated at $ 11 billion.
Meanwhile, millions of dollars from the fund wound up in Najib's personal bank accounts. Billions have been laundered through shell companies and used to purchase luxury assets, the U.S. Justice Department says.
"These assets allegedly included high-end real estate and hotel properties in New York and Los Angeles, a $ 35 million jet aircraft, works of art by Vincent Van Gogh and Claude Monet, an interest in the music publishing rights of EMI Music and Production. of the movie The Wolf of Wall Street, " the DOJ said.
