Former Malaysian PM’s 1MDB graft trial resumes

Former Malaysian PM’s 1MDB graft trial resumes

Agency News

Kuala Lumpur, Apr 15 : Former Malaysian Prime Minister Najib Razak returned to court for the second day on Monday on the allegations of graft at 1Malaysia Development Berhad, or 1MDB, the state-owned investment fund.

Mr Najib, 65, went on trial in Kuala Lumpur, as part of one of the biggest corruption cases in history to go to court. He faces dozens of charges over allegations of graft at 1MDB, which lost $4.5 billion that prosecutors in Malaysia and the US said was funneled to his circle, including $731 million that went into his own bank accounts.

The allegations played a large part in prompting voters to oust his corruption-plagued coalition, which had been in power for six decades, at historic elections last year. Since then, Najib has been arrested and hit with dozens of charges over the scandal, CNA reported.

The ex-leader's highly-anticipated trial began on Apr 3, with Najib denying seven charges related to the theft of RM$42 million (US$10.3 million) from SRC International, a former 1MDB unit. (UNI)