Wednesday, 19 September, 2018

Malaysian central bank to take part in 1MDB investigation

Najib Is All Smiles After Arriving at MACC's Headquarters to Give His Statement- WORLD OF BUZZ 2 Malaysian central bank to take part in 1MDB investigation
Theresa Hayes | 22 May, 2018, 09:56

Malaysia's Anti-Corruption Commission has summoned Najib for questioning on Tuesday over the 1MDB case. US investigators say Razak's associates stole and laundered $4.5 billion from the fund, some of which also landed in Razak's bank account, and that some $23 million was used to buy a rare diamond pink necklace for Mansor.

A major reason for their success was public disgust at allegations of endemic corruption among the country's ruling elite, and in particular an explosive scandal surrounding state fund 1MDB.

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.

He said his family members, particularly wife Datin Seri Rosmah Mansor, had also faced accusations that she intervened in decisions made by him.

TRT World's Alican Ayanlar has more.

Malaysian Prime Minister Mahathir Mohamad has set up a task force to probe a multibillion-dollar scandal engulfing his predecessor.

Najib has been barred from leaving Malaysia as the new government investigates accusations he took part in the looting of billions of dollars from sovereign wealth fund 1MDB in a vast conspiracy of fraud and money-laundering.

The former prime minister denies any wrongdoing.

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.

SRC was placed under the finance ministry in 2012 - Najib was finance minister as well as premier at the time. So have counterparts in Switzerland, Singapore, and other countries.

On Sunday, he was escorted by police as he traveled back to his hometown of Pekan in central Pahang state. He said police took personal belongings such as mobile phones, iPads, clothing and baby shoes from two of the three apartments at the condominium that were raided and occupied by two of Razak's children, Singh said.

Rosmah, in a brief statement issued by law firm Valen, Oh & Partners, said recent incidents appear to have been doe with the aim of generating anger among the public towards the family. "Instead we were accused of bringing down the country, we were accused of being traitors".

The previous evening, Mahathir met Xavier Justo, a Swiss national who was the first whistleblower in the 1MDB affair.

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