Malaysia’s anti-corruption agency has charged the former prime minister Najib Razak with three counts of money laundering as part of its investigation into the multi-billion dollar 1MDB scandal. The charges – which Najib denies – relate to three transfers totalling 42m ringgit (US$10m) into his bank accounts from SRC International, a former unit of the 1MDB fund that US investigators say was looted of billions by Najib’s associates.
The 1MDB corruption scandal, described as the biggest in Malaysia’s history, saw billions of dollars allegedly embezzled and lavishly spent around the globe on luxury property, a private yacht, Hollywood films and extravagant shopping sprees.
— source theguardian.com 8 Aug 2018