Najib Razak Faces New Money Laundering Charges in 1MDB Investigation

Former Malaysian prime minister Najib Razak has been charged with three new counts of money laundering, in connection to the multi-billion-dollar 1MDB scandal.

Mr Najib pleaded not guilty to the charges, entering his plea in the High Court.

The charges relate to three transfers totaling 42 million ringgit ($13.6 million) into his bank accounts from SRC International, a former unit of the 1MDB fund that investigators claim was looted by Najib associates.

The transfers included three values or 27 million ringgit, 5 million ringgit and 10 million ringgit.

They come a month after Mr Najib was charged with three counts of criminal breach of trust and one charge of abuse of power.

The offences carry a possible jail term of up to 15 years and a fine of not less than five times the value of the proceeds of illegal transfers or 5 million ringgit.

Mr Najib was arrested and charged with abuse of power and criminal breach of trust related to the alleged transfer of the same amount of money into his personal bank account last month.

He pleaded not guilty to the charges and was released on bail but his passport was held.

The abuse of power and breach of trust charges carry a 20 year jail sentence for each charge.

Mr Najib and his wife Rosmah Mansor have been both been barred from leaving the country in May/

His successor Mahathir Mohamad relaunched an investigation into 1MDB.

The 1MDB corruption scandal has been described as the biggest in Malaysia’s history, with billions of dollars allegedly embezzled from the fund and spent on luxury property, a private yacht, Hollywood films and shopping sprees.

Mr Najib has consistently denied the charges.

He said it would be a test for the Malaysian judges and he deserved the opportunity for a fair trial.

“I believe in my innocence,” Mr Najib said.

“Therefore the only way I can clear my name is through a system that is fair and a system that is predicated on the rule of law.”

“Everybody (should have) a chance to prove themselves under the system.”

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