Najib out on extended bail for new RM42m money-laundering case

Former prime minister Datuk Seri Najib Razak arrives at the Kuala Lumpur Court Complex

Former prime minister Datuk Seri Najib Razak arrives at the Kuala Lumpur Court Complex

Former prime minister Datuk Seri Najib Tun Razak was today charged with three counts of money laundering amounting to RM42 million related to 1Malaysia Development Bhd's former subsidiary SRC International Sdn Bhd.

Each charge is punishable by up to 15 years' jail and a fine of not less than five times the proceeds of the illegal activity.

He was accused of receiving the money in tranches of RM27 million, RM5 million and RM10 million which were said to be banked into his AmBank account between December 2014 and February 2015.

Abuse of power and breach of trust carry a maximum penalty of 20 years in prison for each charge.

The charges under Section 4 (1) of the Anti-Money-Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2002 (AMLATFPUAA) were initially read out to Najib at the Sessions Court before judge Azura Alwi earlier this morning.

Najib is the first Malaysian prime minister to have been charged in court.

Samuel L. Jackson Will Be Back For SPIDER-MAN: FAR FROM HOME
From what we know so far the solution could come in the form of time travel, but we won't know much more until closer to the film. Avengers: Infinity War is now available on Digital platforms and lands on DVD and Blu-ray on Tuesday, Aug. 14.

Last month, he claimed trial to three charges of criminal breach of trust (CBT) and one charge of abuse of power. He has pleaded not guilty to those charges and was released after posting bail, but his passport was held.

He and his wife, Rosmah Mansor, have been barred from leaving the country since he lost an election in May, and the new prime minister, his mentor-turned-foe Mahathir Mohamad, relaunched an investigation into 1MDB.

Najib arrived at 8.50am in a white Toyota Vellfire accompanied by two police escort vehicles.

Najib set up 1MDB when he took power in 2009 for the stated goal of promoting economic development, but the fund amassed billions in debts and is being investigated in the US and several other countries for alleged cross-border embezzlement and money laundering.

Najib had founded 1MDB and headed its advisory board.

Here's a detailed look at the scandal.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.