Ex- PM Najib Razak arrested by anti- corruption agency, will appear in court today

Kuala Lumpur, Malaysia , Sept. 19: Malaysia's antigraft agency said former Prime Minister Najib Razak was arrested on Wednesday and will face further charges of abuse of power over the multimilliondollar looting of a state investment fund.

The agency said in a statement that Najib was detained at its office over the transfer of 2.6 billion ringgit ($ 627.8 million) into his bank account. It said Najib will be taken to court on Thursday to face several charges under Section 23 of the Malaysian AntiCorruption Commission Act.

It didn’t give details, but the section deals with the abuse of power.

Najib was earlier charged with multiple counts of criminal breach of trust, corruption and money laundering over the scandal at the 1MDB state fund, just months after his shocking electoral defeat. He has pleaded not guilty and his trial is due to start next year.

Najib set up 1MDB when he took power in 2009 to promote economic development, but the fund amassed billions in debts and is being investigated in the U. S. and several other countries for alleged cross- border embezzlement and money laundering. The US Department of Justice, which is seeking to recover items allegedly bought with stolen 1MDB cash in America, estimates that $ 4.5 billion in total was looted from the fund.

Following Najib's election loss, police seized a vast trove of items — bags and jewellery — from properties linked to him with an estimated value of up to $ 273 million.

Investigations into 1MDB have been moving swiftly. Last month, a luxury yacht allegedly bought by a playboy financier with a central role in the scandal returned to Malaysia after being handed over by Indonesia, which impounded it following a DoJ request.

Public anger over the 1MDB scandal led to the stunning ouster of Najib's long- ruling coalition in May 9 national polls and ushered in the first change of power since independence from Britain in 1957.

The new government reopened investigations stifled under Najib's rule and barred him and his wife from leaving the country. Police also seized jewelry and hundreds of handbags and other valuables estimated at more than 1.1 billion ringgit ($ 273 million) from properties linked to Najib.

Police have said that investigations have shown that $ 972 million had been transferred to Najib's bank account from three companies linked to 1MDB.

Najib, 65, has accused Malaysia’s new government under Prime Minister Mahathir Mohamad of seeking political vengeance and vowed to clear his name at his trial. He has claimed the money was a political donation from Saudi Arabia’s royal family.