Europe mar­kets drop amid Greece fall­out

The China Post - - INTERNATIONAL -

Malaysia’s anti-cor­rup­tion agency has said that nearly US$700 mil­lion de­posited into the prime min­is­ter’s per­sonal bank ac­counts were from “do­na­tions” and not re­lated to a brew­ing scan­dal.

Prime Min­is­ter Na­jib Razak has faced mount­ing pres­sure in the past year over a se­ries of rev­e­la­tions al­leg­ing that hun­dreds of mil­lions of U.S. dol­lars were si­phoned off from a state-owned com­pany linked to him.

The Wall Street Jour­nal last month re­ported that Malaysian gov­ern­ment in­ves­ti­ga­tors had found nearly US$700 mil­lion was routed to his per­sonal bank ac­counts.

In a state­ment on Mon­day, the Malaysian Anti-Cor­rup­tion Com­mis­sion ac­knowl­edged the funds were trans­ferred to Na­jib’s ac­counts, but said they were not linked to the com­pany, 1Malaysia De­vel­op­ment Ber­had (1MDB).

“In­ves­ti­ga­tions re­vealed that the 2.6 bil­lion ring­git (US$670 mil­lion) al­leged to have gone into (Na­jib’s) ac­count was from donors’ con­tri­bu­tions, and not funds from 1MDB,” it said.

It did not spec­ify the iden­ti­ties of the donors, but said in­ves­ti­ga­tions were con­tin­u­ing.

Both Na­jib and 1MDB, which he launched in 2009, strongly deny wrong­do­ing, with Na­jib ac­cus­ing po­lit­i­cal op­po­nents of a con­spir­acy to top­ple him.

The firm re­leased a state­ment on Tues­day re­stat­ing its in­no­cence.

“1MDB wel­comes the clear state­ment from the Malaysian Anti-Cor­rup­tion Com­mis­sion, which con­firms that no funds from 1MDB were trans­ferred to the Prime Min­is­ter,” it said.

“We have al­ways main­tained that the com­pany has never pro­vided any funds to the Prime Min­is­ter.”

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