• Bloomberg

  • SHARE

The Malaysian Anti-Corruption Commission said its investigations found that 2.6 billion ringgit ($675 million) in Prime Minister Najib Razak’s personal accounts are donations and not from a debt-ridden state investment company.

The agency has completed its probe of the premier’s accounts and sent the results to the attorney general, it said in an emailed statement Monday. The probe was done in a free, transparent and professional manner, it said, without indicating where the donations came from or why millions of dollars in such funds would be deposited in Najib’s personal bank accounts.

The Wall Street Journal reported July 3 that $700 million may have moved through government agencies and state-linked firms to accounts bearing Najib’s name. The premier has denied taking money for personal gain and has described the furor as part of a campaign to remove him from office.

Facing his biggest crisis in six years in power, Najib last week removed Deputy Prime Minister Muhyiddin Yassin, who had called for answers on the 1Malaysia Development Bhd. imbroglio, including its investment decisions.

The government said it also was replacing Attorney General Abdul Gani Patail for health reasons, with former Federal Court Judge Mohamed Apandi Ali taking the role.

The attorney general’s office is on the task force investigating the money trail claims against Najib. 1MDB is the subject of overlapping probes by agencies, including the central bank and the police.

Controversy over 1MDB’s finances has dogged Najib for months, though an initial audit report didn’t reveal any suspicious activity. Najib chairs the advisory board of 1MDB and has resisted calls from ex-Premier Mahathir Mohamad to step down over the fund’s performance as it amassed about 42 billion ringgit of debt in less than five years.

The task force investigating 1MDB comprises the central bank, police, the anti-corruption commission and attorney general’s office. 1MDB has said reports that it funneled funds to Najib’s accounts are untrue.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)