The Latest on Malaysia’s 1MDB corruption scandal (all times local):
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10:30 a.m.
Former Malaysian Prime Minister Najib Razak has pleaded not guilty to new money laundering charges related to the alleged multibillion-dollar looting of the 1MDB state investment fund.
Najib spoke softly as he entered his plea in the High Court on Wednesday. Last month he pleaded not guilty to abuse of power and breach of trust charges.
The charges involve the transfer of 42 million ringgit ($10.3 million) into his bank accounts from SRC International, a former unit of 1MDB, which international investigators say was looted of billions by Najib’s associates.
Each money-laundering count carries a penalty of up to 15 years in prison and a substantial fine
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9:30 a.m.
Former Malaysian Prime Minister Najib Razak has been charged with three counts of money laundering related to the alleged multibillion-dollar looting of a state investment fund, adding to his troubles just three months after his stunning electoral defeat.
Najib stood calmly in the dock Wednesday as the charges were read to him. Last month he pleaded not guilty to abuse of power and breach of trust charges.
All of the charges against him involve the transfer of 42 million ringgit ($10.3 million) into his bank accounts from SRC International, a former unit of the 1MDB fund that international investigators say was looted of billions by Najib’s associates.
Each money-laundering count carries a penalty of up to 15 years in prison and a substantial fine.
