Najib Razak to Give 1MDB Statement

Joann Johnston
May 23, 2018

A probe into billions of dollars missing from state investment fund 1MDB has been re-opened since Najib lost the election two weeks ago.

Former Prime Minister Datuk Seri Najib Tun Razak could be charged under the Malaysian Anti-Corruption Commission (MACC) Act 2009 if he failed to turn up at the agency headquarters in Putrajaya today.

The shock election result upended Malaysia's political order, as it was the first defeat for a coalition that had governed the Southeast Asian nation since its independence from colonial rule in 1957.

"This taskforce will also be responsible for seeking cooperation of various enforcement agencies in the United States, Switzerland, Singapore, Canada and other related countries", the office of new Prime Minister Mahathir Mohamad said in a statement.

A new attorney general in 2016 cleared Najib of wrongdoing, saying a particular transfer of $681 million was a political donation from the Saudi royal family and that most of it was returned.

Najib has denied any wrongdoing since the scandal erupted in 2015.

Since losing power, Najib and his allegedly shopaholic wife, Rosmah Mansor, have suffered a series of humiliations, starting with a ban on them leaving the country, and then police searching their home and other properties.

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Mahathir also announced a renewed effort in investigating the 1MDB scandal.

The initial focus of the MACC's new probe is on how 42 million ringgit ($10.6 million) went from SRC International to Najib's account. "Instead we were accused of bringing down the country, we were accused of being traitors", Shukri said.

Ownership of SRC had been transferred to Malaysia's finance ministry by February 2012, lowering 1MDB's gearing ratio to 9.5 times, from 12 times, and removing the state guarantee for 1MDB, according to the report.

"The government hopes the setting up of this task force, comprising a multi-agency enforcement unit, will help restore the dignity of Malaysia that has been tainted by the 1MDB kleptocracy scandal", said Mahathir's office. Reports have stated that the police have still not finished counting the seized cash.

Razak started 1MDB, in 2009, but the fund accumulated billions in debts and is being investigated overseas.

The US Department of Justice refers to Najib as "Malaysian Official Number 1" in its anti-kleptocracy investigation into 1MDB.

"Charge, investigate, prudently", Nurul said on Twitter.

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