Former Malaysian PM Arrested, to be Charged with Graft

(From UPI)

Former Malaysian Prime Minister Najib Razak, who has been accused of pocketing millions of government dollars in the past, was arrested by anti-corruption officials Tuesday and will be charged this week.

Razak is expected to be charged Wednesday with more than ten counts of criminal breach of trust in relation to matters dealing with SRC International, a subsidiary of state development fund 1Malaysia Development Berhad.

Billions of dollars are missing from the 1MDB fund, which was set up by the former prime minister.

Since losing re-election in May, Razak has been under investigation and has denied wrongdoing. He has been banned from leaving Malaysia.

The 1MDB fund, set up by Razak in 2009, was meant to assist in transforming Kuala Lumpur into a financial hub and boost the economy through strategic investments. However, the fund missed payments for some of the $11 billion it owed to banks and bondholders in early 2015 — attracting negative attention.

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