Former Malaysian PM Najib Razak arrested over money laundering charges
Kuala Lumpur, Jul 3 (IBNS): Malaysian Authorities on Tuesday arrested former Prime Minister Najib Razak on the charge of multibillion-dollar looting of a state investment fund, media reports said.
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.
It said in a brief statement that Najib will be brought to court on Wednesday to be charged.
Najib’s arrest comes nearly two months after his coalition was ousted from power in the May 9 general election and the new dispensation reopened investigations into 1MDB.
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