Ex-Malaysian PM granted bail on money-laundering charges

Najib arrives at the Sessions Court in the Court Complex at Jalan Duta. — Bernama

Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) has confirmed that Datuk Seri Najib Tun Razak would be charged again tomorrow (Wednesday).

Former prime minister Najib Razak will face fresh charges today over money laundering as he makes his second appearance in a Malaysian court since he was toppled from power in May.

Mr Najib was arrested in July and has already been charged with breach of trust and abusing his position.

Asked if he understood the charges, Najib responded: "I understand".

Each charge is punishable by up to 15 years' jail and a fine of not less than five times the proceeds of the illegal activity.

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He claimed trial to three counts of money laundering at the High Court in Putrajaya, in fresh charges of receiving RM27 million and RM10 million which were wired to his bank accounts on three separate transactions.

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The High Court has yet to fix trial dates for the three criminal cases of CBT, power abuse, and money-laundering that will be heard together. He has pleaded not guilty to those charges and was released after posting bail, but his passport was held.

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.

Tan Sri Irwan was removed from his post and that of 1MDB chairman after Najib was ousted.

Razak was barred from leaving the country and the case was reopened after he lost the elections to his former mentor Mahathir Mohamad on May 9.

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

Police also seized jewellery and valuables valued at more than 1.1 billion ringgit (£208m) from properties linked to Mr Najib. On Tuesday, a luxury yacht allegedly paid for with about $250m stolen from 1MDB arrived outside Kuala Lumpur after being handed over by Indonesian authorities, who impounded it following a request for the US Department of Justice.

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