Malaysia’s ex-PM held over $628mn linked to 1MDB
Kuala Lumpur, Malaysia - Malaysia’s toppled leader Najib Razak was arrested on Wednesday and will be charged over allegations that US$628mn linked to state investment fund 1MDB ended up in his personal bank accounts, officials said.
Allegations that huge sums were looted from the investment vehicle by Najib and his cronies were a major factor in the shock defeat of his coalition at elections in May to an alliance headed by Mahathir Mohamad.
Mahathir, 93, in his second stint as PM after coming out of retirement, has reopened probes into 1MDB that were shut down by the former government, and vowed to bring Najib to justice.