Former Malaysian PM Najib faces three more money laundering charges

Malaysia's former Prime Minister Najib Razak leaves a court in Kuala Lumpur, Malaysia October 4, 2018. REUTERS/Lai Seng Sin

JANUARY 28, 2019

KUALA LUMPUR (Reuters) - Malaysian prosecutors on Monday charged former prime minister Najib Razak with three more counts of money laundering, allegedly receiving the proceeds of illegal activities in his personal bank accounts.

After unexpectedly losing an election to Mahathir Mohamad in May last year, Najib has been slapped with a series of corruption charges, mostly tied to losses at now-defunct state fund 1MDB.

The latest charges bring the total number against him to 42.

Najib has pleaded not guilty to all the charges and has consistently denied wrongdoing. The first of his four trials starts on Feb. 12.

Prosecutors on Monday alleged that Najib received in his private bank account a total of 47 million ringgit ($11.44 million) in proceeds of illegal activities, according to charge sheets seen by Reuters.

A conviction on each charge would involve a maximum fine of 5 million ringgit or imprisonment of up to five years or both.

After unexpectedly losing an election to Mahathir Mohamad in May last year, Najib has been slapped with a series of corruption charges, mostly tied to losses at now-defunct state fund 1MDB.

The latest charges bring the total number against him to 42.
Najib has pleaded not guilty to all the charges and has consistently denied wrongdoing. The first of his four trials starts on Feb. 12.

Prosecutors on Monday alleged that Najib received in his private bank account a total of 47 million ringgit ($11.44 million) in proceeds of illegal activities, according to charge sheets seen by Reuters.
A conviction on each charge would involve a maximum fine of 5 million ringgit or imprisonment of up to five years or both.

Goldman Sachs has consistently denied wrongdoing and said certain members of the former Malaysian government and 1MDB lied to the bank about the proceeds of the bond sales.
($1 = 4.1080 ringgit)

Reporting by Rozanna Latiff, Writing by A. Ananthalakshmi; Editing by Nick Macfie