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Money laundering added to list of charges against Najib

Bloomberg
Bloomberg8/8/2018 09:57 AM GMT+08  • 2 min read
Money laundering added to list of charges against Najib
(Aug 8): Malaysia’s former Prime Minister Najib Razak was charged under the anti-money laundering act in a case linked to the multibillion-dollar 1MDB scandal, adding to his earlier charges of corruption and breach of trust.
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(Aug 8): Malaysia’s former Prime Minister Najib Razak was charged under the anti-money laundering act in a case linked to the multibillion-dollar 1MDB scandal, adding to his earlier charges of corruption and breach of trust.

Najib was served with three counts of money laundering charges related to SRC International Sdn, a former unit of state fund 1MDB. He has pleaded not guilty to earlier charges of corruption and criminal breach of trust, also linked to SRC, that were served on July 4.

The indictment, the first for a former premier of Malaysia, comes after the country revived domestic investigations into the state fund following Najib’s fall from power in May. Prime Minister Mahathir Mohamad is seeking to recover US$4.5 billion ($6.14 billion) of funds potentially lost through 1MDB, whose full name is 1Malaysia Development Berhad, including by seizing a US$250-million yacht and seeking to recoup fees from Goldman Sachs Group Inc.

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