Najib pleads not guilty to money laundering

Najib Razak ex Malaysia PM slammed with a new money laundering charge

Najib Razak ex Malaysia PM slammed with a new money laundering charge

The 65-year-old was charged on July 4 with three counts of criminal breach of trust (CBT) and one count of power abuse in relation to RM42 million funds said to belong to former 1Malaysia Development Berhad (1MDB) unit SRC International Sdn Bhd.

Looking exhausted as he appeared in court, Najib was charged with three counts of money laundering over claims that he pocketed 42 million ringgit ($10.3 million). This morning Razak reached the courthouse accompanied by his children, he looked calm.

The new government reopened the investigations stifled under Najib's rule and barred him and his wife from leaving the country.

The charges were read out in a Sessions Court in Kuala Lumpur and the case is now being transferred to the High Court, where Najib is expect to enter a plea for each of the charges later on Wednesday.

Najib's lead defence lawyer Tan Sri Muhammad Shafee Abdullah agreed to the request.

These are in addition to the charges he faced last month after he was first arrested - three for criminal breach of trust and a separate count that he abused his position to take the money. Asked if he understood them, Mr Najib said: "I understand".

Investigations into 1MDB have been moving swiftly.

The scandal at 1MDB fully erupted in 2015 after media reports that hundreds of millions of dollars from 1MDB were diverted to his personal accounts.

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SRC has been the initial focus of Malaysian investigators as all the suspicious transactions involving it went through Malaysian entities, unlike other 1MDB-related transactions that went through foreign banks and companies.

It sailed into the Malaysian port a day after Prime Minister Mahathir Mohamad thanked Indonesian President Joko "Jokowi" Widodo for agreeing to hand it over to Malaysian officials.

Najib's stepson Riza Aziz, an aspiring film producer, is also alleged to have used millions from the fund.

Najib chaired the 1mdb the whole time while the sovereign fund became bankrupt and had to sell its assets - bought at higher prices than market value - to recover its debts, the opposition said during the elections.

He appeared at the MACC office in Kuala Lumpur yesterday after he was summoned by the anti-graft agency.

He's accused of stealing more than $13 million from a state investment fund, just part of the $4.5 billion USA investigators claim was siphoned from the fund known as 1MDB.

On Tuesday, a luxury yacht that was allegedly procured using stolen money from 1MDB was returned to the Malaysian government.

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