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Wednesday, July 4, 2018

Najib charged with multi-billion ringgit CBT, abuse of power

The former prime minister is is accused of committing the offences between December 2014 and March 2015 in his capacity as finance minister.
KUALA LUMPUR: Former prime minister Najib Razak has been charged with criminal breach of trust under Section 409 of the Penal Code in connection with the transfer of RM42 million to his private bank account from former 1MDB subsidiary SRC International Sdn Bhd.
He was handed three separate charges for offences committed on three different dates amounting to RM42 million.
He is accused of committing the offences between December 2014 and March 2015 at the AmBank office in his capacity as finance minister.
Najib was seen smiling from the dock as the charges were read out to him.
Attorney-General Tommy Thomas is leading the prosecution team assisted by 11 others.
The charges were read out to Najib at the Sessions Court here, with no plea recorded. The plea will only be recorded when his case is transferred to the High Court.
This comes less than two months after Najib’s stunning fall from grace in the May 9 general election, where he lost to Dr Mahathir Mohamad and the Pakatan Harapan coalition.
Najib, 64, had been called in for questioning twice by the Malaysian Anti-Corruption Commission (MACC) in relation to SRC International.
He was arrested by MACC at his home yesterday as part of the government’s probe into state investment arm 1MDB.
He is the first of six former prime ministers to face criminal charges.
The RM42 million channelled into his bank account is only a fraction of the total amount allegedly misappropriated from 1MDB, with the US Department of Justice claiming over US$4.5 billion was siphoned from the fund.
Najib was barred from leaving the country after the May 9 polls, with over RM1 billion worth of items seized from properties linked to his family. FMT

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