Former Malaysian PM Najib Razak to be charged with money laundering

Former Malaysian PM Najib Razak to be charged with money laundering

On July 4, Najib was charged with three counts of criminal breach of trust under Section 409 of the Penal Code over RM42 million allegedly siphoned from SRC International in 2014.

The scandal led to the stunning electoral victory in May by a coalition led by the 92-year-old Mahathir over Najib's National Front coalition, which had ruled Malaysia uninterrupted since gaining independence in 1957 - 22 of those years under Mahathir himself.

Najib, his cronies and family members are accused of stealing huge sums from 1MDB in a sophisticated fraud that spanned the globe.

Najib arrived at the Malaysian Anti-Corruption Commission (MACC) office at 5 p.m. (0900 GMT) in a four-car motorcade.

Opposition lawmaker Hishammuddin Hussein, who was formerly defense minister, said Tuesday that the move to close the center was a loss to the nation amid growing terrorism in the Muslim world.

Indonesian authorities detained the super-yacht following a request by the US Department of Justice, which is investigating alleged massive misappropriation involving the 1MDB state fund.

The charges are related to the RM42mil that allegedly went from SRC International into Najib's personal bank accounts.

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The U.S. Justice Department, which had sought custody of Equanimity as part of its anti-kleptocracy investigation into 1MDB, said proceedings in the U.S. courts should be suspended until it finds out what Malaysia would do with the yacht. Police have also seized jewelry and valuables valued at more than 1.1 billion ringgit ($270.2 million) from properties linked to Najib.

He also expressed his gratitude to the Indonesian government, particularly its, President Joko Widodo, for returning the US$250 million (RM1 billion) super yacht.

The large, blue and white boat arrived in Port Klang, west of the capital, after setting sail from the Indonesian island of Batam.

He said Indonesia, Malaysia and the US recently activated the mutual legal assistance treaties among themselves.

A large team of officials was seen entering the yacht.

"We believe the ship is owned by the Malaysian government because it was bought by Malaysian money that was stolen by certain parties", Mahathir said.

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