Former Malaysian prime minister Najib Razak arrested in corruption probe

Najib's Son to be Called in for Questioning at MACC Tomorrow Regarding 1MDB Scandal- WORLD OF BUZZ

Former Malaysian Prime Minister Datuk Seri Najib Razak was arrested on Tuesday, less than two months after losing an election to Tun Dr Mahathir Mohamad.

The sum is just a fraction of the billions of dollars allegedly siphoned from 1MDB in a scandal that has dogged Najib's leadership for years and is what many say led to his stunning defeat on May 9.

A spokesman for the politician did not immediately comment but Najib has consistently denied wrongdoing.

It has been alleged that out of billions of ringgit found in his personal accounts, Mr Najib received RM42 million (S$14.2 million) from SRC.

Najib, who spent the night in lockup, arrived at 8.20 a.m. (0020 GMT) at the court complex in Malaysia's capital of Kuala Lumpur, wearing a dark blue suit and a red tie.

"There is a role for Australia using AUSTRAC [Australia's financial intelligence agency] and possibly the Australian banking royal commission that is on right at the moment, to determine what happened, and to ensure that money, if it has been abused and funneled to people inappropriately, that it is returned to the people of Malaysia", she said.

It said Malaysia's new attorney general, Tommy Thomas, will head the prosecution in the case.

The son of a former prime minister, Najib joined parliament at the age of 23 and rose through the ranks to take the top job in 2009.

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The US Department of Justice (DOJ) began investigating 1MDB, saying $4.5bn had been diverted. In addition, the police have seized cash, handbags and jewelry valued at more than 1 billion ringgit as part of the investigation.

Yesterday, Bar president George Varughese criticised the 1MDB task force for issuing a statement on Najib's arrest at his house.

A day before his arrest, Najib repeated his claim that another mysterious $680 million was a donation from a member of the Saudi royal family.

The new government has reopened investigations into 1MDB that were stifled under Najib's rule.

Najib and his cronies were accused of plundering billions of dollars from the 1MDB sovereign wealth fund to buy everything from U.S. real estate to artworks.

According to authorities, the accounts linked to 81 individuals and 55 companies "are believed to have been linked to misappropriation and misuse of 1MDB funds". Following the stateside investigation, Red Granite earlier this year agreed to pay back $60M to the USA government but has denied any intentional wrongdoing.

- The lawsuits say US$681 million from a 2013 bond sale by 1MDB was transferred to the account of "Malaysian Official 1", whom United States and Malaysian officials later identify as Najib.

The 1MDB government task force this week said 408 bank accounts involving funds of almost 1.1 billion ringgit ($272 million) had been frozen.

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