Report: 1MDB probe now involves funds to BN parties

Authorities are probing BN component parties and lawmakers which allegedly received 1MDB-linked funds, according to a report by Singapore's Straits Times.

The report claimed that investigations could trigger "serious political aftershocks" because the parties or proxies in possession of the funds could find their accounts frozen pending the completion of the probe or trial.

"Elected representatives would not only have their bank accounts frozen but could also face being disqualified as MPs or state assemblyperson if found guilty," read the report.

The Straits Times also stated that if found to be true, then billions of ringgit worth of business assets belonging to the various parties could be affected.

Following Najib's ouster after the May 9 general election, which also saw BN lose federal power, the new government has begun investigating the multi-billion 1MDB scandal.

The fund is also being probed by authorities from Singapore, Switzerland and the United States.

Billion ringgit bailout

A series of exposes by new Finance Minister Lim Guan Eng has revealed several dubious payments allegedly related to 1MDB, among others, that the previous BN-led government had paid out close to RM7 billion to bail it out.

During searches on properties linked to Najib and family members, police seized hundreds of boxes containing luxury handbags, as well as travel suitcases filled with cash of various denominations, valued at RM114 million, jewellery and watches.

Najib and wife Rosmah Mansor have both been called in by the Malaysian Anti-Corruption Commission (MACC) for questioning over the case.

Rosmah's name has cropped up numerous times in the relation to the fund, especially in regards to a US$27 million pink diamond pendant and necklace alleged to have been purchased for her using money from 1MDB. 

Throughout it all, Najib has consistently denied any wrongdoing.

Following the seizures, he claimed the cash was donations meant for Umno's use during the election campaign.

Meanwhile, in a recent interview with Reuters, he further stated that he would have actedhad he known any money from 1MDB were being misappropriated.

He also claimed the pink diamond set was meant as a gift for Rosmah and that the latter never received it.

Even so, various media reports have claimed that Najib could face multiple charges, with even Prime Minister Dr Mahathir Mohamad stating that his predecessor could be up against charges of embezzlement and bribery with government money. - Mkini