Tuesday, March 1, 2016

Massive Corruption Case Rocking Malaysian Politics

Malaysia's Prime Minister Najib Razak, left, set up a state fund known as 1MDB several years ago to spur economic growth. The fund is now the subject of investigations. PHOTO: OLIVIA HARRIS/REUTERS

WSJ: 1MDB Scandal: Deposits in Malaysian Leader Najib’s Accounts Said to Top $1 Billion

Global investigators believe much of it originated with state development fund and moved to Prime Minister Najib Razak’s accounts via offshore entities

Deposits into personal accounts of Malaysia’s prime minister totaled more than $1 billion—hundreds of millions more than previously identified—and global investigators believe much of it originated with a Malaysian state fund, people familiar with the matter say.

The investigators’ belief contradicts a conclusion reached recently by Malaysia’s attorney general.

The attorney general said $681 million deposited to Prime Minister Najib Razak’s account—identified by The Wall Street Journal last year—was a legal donation from a member of Saudi Arabia’s royal family, and most was returned. The attorney general said there was nothing improper and it was time to stop scrutinizing the deposits, a notion echoed by Mr. Najib.

Read more ....

More News On Claims That Malaysia's Prime Minister Najib Razak Received $1 Billion Into His Personal Account

More than $1 billion was transferred into Malaysia PM's accounts: WSJ -- Reuters
Deposits into Malaysia PM's accounts topped $1 billion, WSJ reports -- CNBC
$1.4 billion reportedly deposited in Malaysia PM Najib Razak's account -- Sydney Morning Herald
Malaysia ex-PM Mohamed Mahathir to leave ruling party Umno -- BBC
Mahathir Mohamad Quits Malaysia’s Governing Party, Citing Corruption -- NYT
Mahathir quits Malaysia's ruling UMNO party, protesting corruption -- Reuters
Former Malaysia Leader Mahathir Mohamad Resigns From Ruling Party -- WSJ

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