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MPA (400+ posts)
(PUTRAJAYA, Malaysia) — A government official and an aide to former Malaysian Prime Minister Najib Razak say Najib has been arrested by anti-graft officials.Najib’s arrest comes nearly two months after his coalition’s shocking defeat in a May 9 general election.
(KUALA LUMPUR, Malaysia) — Former Malaysian Prime Minister Najib Razak was arrested Tuesday by anti-graft investigators and will be charged over his alleged role in the multibillion-dollar looting of a state investment fund.
A government task force probing alleged theft and money laundering at the 1MDB state investment fund said Najib’s arrest was linked to a suspicious transfer of 42 million ringgit ($10.6 million) into his bank account from SRC International, a former 1MDB unit, using multiple intermediary companies.
It said in a brief statement that Najib will be brought to court on Wednesday to be charged, but didn’t give details of the charges against him.
Najib’s arrest comes nearly two months after his coalition’s stunning rejection by voters in a May 9 general election.
The new government has reopened investigations into 1MDB that were stifled under Najib’s rule. Najib and his wife, who have been questioned over the SRC issue by the anti-graft agency, have been barred from leaving the country. Police have also seized jewelry and valuables valued at more than 1.1 billion ringgit ($272 million) from properties linked to Najib, who has denied any wrongdoing.
The anti-corruption agency earlier Tuesday questioned Riza Aziz, Najib’s stepson and a Hollywood film producer, as it stepped up its probe on 1MDB. Riza was solemn as he arrived at the anti-graft office and didn’t speak to reporters.
U.S. investigators say Riza’s company, Red Granite Pictures Inc., used money stolen from 1MDB to finance Hollywood films including the Martin Scorsese-directed “The Wolf of Wall Street.” Red Granite in March agreed to pay the U.S. government $60 million to settle claims that it benefited from the 1MDB scandal.
The civil suit against Red Granite was part of an effort to recover some of the $4.5 billion that U.S. prosecutors say was stolen from 1MDB. They say hundreds of millions from 1MDB landed in Najib’s bank accounts.
The 1MDB government task force this week said 408 bank accounts involving funds of nearly 1.1 billion ringgit had been frozen. It said the accounts, belonging to 81 people and 55 companies, are thought to have received funds from 1MDB between 2011 and 2015.
http://time.com/5329072/malaysia-najib-razak-arrested-corruption
Same Allegation/Cases but best way to implement the law because in the eyes of law everyone are equal no one is above the Law but in pak it's totally different game!
Malaysia 1MDB: Ex-Prime Minister Najib arrested by anti-corruption officials
Najib Razak has been accused of pocketing $700m from a state fund
Former Malaysian prime minister Najib Razak has been arrested by anti-corruption authorities and is due to be charged on Wednesday.
Mr Najib, who has long been plagued by allegations of corruption, has been accused of pocketing $700m (£517m) from state development fund 1MDB.
Billions of dollars are unaccounted for from the fund, set up by Mr Najib.
He has been under investigation since his shock election loss in May. Mr Najib denies wrongdoing.
According to a statement by the 1MDB special task force, Mr Najib was arrested at 14:35 local time (06:35 GMT) at his house in relation to matters dealing with SRC, a subsidiary of 1MDB.
He will be charged at 08:30 on Wednesday at the Kuala Lumpur High Court.
Raids in recent weeks have been carried out across properties linked to Mr Najib.
Police say they recovered $273m in luxury goods and cash from a raid in June, calling the seizure of valuables the biggest in Malaysian history.
Jewellery accounted for the biggest portion of the seizure, with the most expensive item being a $1.6m diamond and gold necklace.
A corruption scandal
Mr Najib has always denied the corruption charges and had been cleared by Malaysian authorities while in power, but he is being investigated by several other countries.
He has been banned from leaving Malaysia.
1MDB, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Mr Najib has consistently denied taking money from 1MDB or any public funds.
Source
(KUALA LUMPUR, Malaysia) — Former Malaysian Prime Minister Najib Razak was arrested Tuesday by anti-graft investigators and will be charged over his alleged role in the multibillion-dollar looting of a state investment fund.
A government task force probing alleged theft and money laundering at the 1MDB state investment fund said Najib’s arrest was linked to a suspicious transfer of 42 million ringgit ($10.6 million) into his bank account from SRC International, a former 1MDB unit, using multiple intermediary companies.
It said in a brief statement that Najib will be brought to court on Wednesday to be charged, but didn’t give details of the charges against him.
Najib’s arrest comes nearly two months after his coalition’s stunning rejection by voters in a May 9 general election.
The new government has reopened investigations into 1MDB that were stifled under Najib’s rule. Najib and his wife, who have been questioned over the SRC issue by the anti-graft agency, have been barred from leaving the country. Police have also seized jewelry and valuables valued at more than 1.1 billion ringgit ($272 million) from properties linked to Najib, who has denied any wrongdoing.
The anti-corruption agency earlier Tuesday questioned Riza Aziz, Najib’s stepson and a Hollywood film producer, as it stepped up its probe on 1MDB. Riza was solemn as he arrived at the anti-graft office and didn’t speak to reporters.
U.S. investigators say Riza’s company, Red Granite Pictures Inc., used money stolen from 1MDB to finance Hollywood films including the Martin Scorsese-directed “The Wolf of Wall Street.” Red Granite in March agreed to pay the U.S. government $60 million to settle claims that it benefited from the 1MDB scandal.
The civil suit against Red Granite was part of an effort to recover some of the $4.5 billion that U.S. prosecutors say was stolen from 1MDB. They say hundreds of millions from 1MDB landed in Najib’s bank accounts.
The 1MDB government task force this week said 408 bank accounts involving funds of nearly 1.1 billion ringgit had been frozen. It said the accounts, belonging to 81 people and 55 companies, are thought to have received funds from 1MDB between 2011 and 2015.
http://time.com/5329072/malaysia-najib-razak-arrested-corruption
Same Allegation/Cases but best way to implement the law because in the eyes of law everyone are equal no one is above the Law but in pak it's totally different game!
Malaysia 1MDB: Ex-Prime Minister Najib arrested by anti-corruption officials
Najib Razak has been accused of pocketing $700m from a state fund
Former Malaysian prime minister Najib Razak has been arrested by anti-corruption authorities and is due to be charged on Wednesday.
Mr Najib, who has long been plagued by allegations of corruption, has been accused of pocketing $700m (£517m) from state development fund 1MDB.
Billions of dollars are unaccounted for from the fund, set up by Mr Najib.
He has been under investigation since his shock election loss in May. Mr Najib denies wrongdoing.
According to a statement by the 1MDB special task force, Mr Najib was arrested at 14:35 local time (06:35 GMT) at his house in relation to matters dealing with SRC, a subsidiary of 1MDB.
He will be charged at 08:30 on Wednesday at the Kuala Lumpur High Court.
Raids in recent weeks have been carried out across properties linked to Mr Najib.
Police say they recovered $273m in luxury goods and cash from a raid in June, calling the seizure of valuables the biggest in Malaysian history.
Jewellery accounted for the biggest portion of the seizure, with the most expensive item being a $1.6m diamond and gold necklace.
A corruption scandal
Mr Najib has always denied the corruption charges and had been cleared by Malaysian authorities while in power, but he is being investigated by several other countries.
He has been banned from leaving Malaysia.
1MDB, set up by Mr Najib in 2009, was meant to turn Kuala Lumpur into a financial hub and boost the economy through strategic investments.
But it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.
Then the Wall Street Journal (WSJ) reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib's personal bank accounts.
Mr Najib has consistently denied taking money from 1MDB or any public funds.
Source
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