A former minister in the Prime Minister's Department, Zaid Ibrahim, yesterday filed a representative action against Prime Minister Najib Abdul Razak for breach of his fiduciary duty and wants Najib to return US$731 million deposited into his private banking accounts to the government.
Zaid also sought that RM42 million, which Najib allegedly received from sovereign wealth fund 1MDB subsidiary SRC International Sdn Bhd, to also be returned to the government and 1MDB.
He named Najib, 1MDB, the government and Najib's stepson Riza Aziz in the representative action.
Zaid filed the action in the High Court in Kuala Lumpur yesterday.
The US$731 million consists of the purported US$681 million deposited in Najib's Ambank accounts prior to the 13th general election in March 2013, and also the US$20 million he allegedly received from Good Star Ltd between February and June 2011, as well as the US$30 million he allegedly received from Aabar BVI between October and November 2012.
[More to follow]
-Mkini
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