Former Malaysian leader Najib Razak charged with breach of trust and corruption

BREAKING Najib Was Just Arrested at His Private Residence- WORLD OF BUZZ 1

One of the sources said Najib was expected to be charged in court on Wednesday.

The charges carry sentences of between two and 20 years with possible caning and fines.

"As a normal human being, I am not ideal but believe me that the accusations against me and my family are not all true", he said.

FILE PHOTO: Malaysia's former prime minister Najib Razak arrives to give a statement to the Malaysian Anti-Corruption Commission (MACC) in Putrajaya, Malaysia, May 24, 2018.

Allegations of massive corruption were a major factor behind the electoral quake in May that toppled Najib's long-ruling coalition and ushered in a reformist alliance headed by his 92-year-old former mentor Mahathir Mohamad.

Nonetheless, the High Court subsequently lowered the bail amount to RM1 million and allowed Najib to pay half of the sum on Wednesday, with the balance to be settled by 3pm next Monday (Jul 9), reported Free Malaysia Today.

In addition, the court granted an interim gag order until Aug 8 when the case will be mentioned and an application for a full gag order will be heard. And sources close to the matter said he may face several charges.

Najib has denied any wrongdoing, saying the funds in his accounts were a political donation from Saudi royalty, and that he has never abused public funds for personal gain.

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Najib came to power in 2009 and soon after founded 1MDB which is being investigated in at least six countries for alleged money laundering and graft.

It vowed that Najib "will contest these charges and clear his name in court".

SRC, created in 2011 by Najib's government to pursue overseas investments in energy resources, was a unit of 1MDB until it was moved to the finance ministry in 2012.

He said: "Najib has to answer the allegations".

SRC has been the initial focus of Malaysian investigators as all the suspicious transactions involving the firm were made through Malaysian entities, unlike other 1MDB related transactions that went through foreign banks and companies.

"My dear Malaysians, if you are listening to this message, it means that actions have been taken against me", Najib says, according to a translation from Channel News Asia.

Some of Najib's children were present in the courtroom, including his stepson Riza Aziz who on Tuesday was questioned by anti-graft officers in connection with their 1MDB probe.

Shortly after his downfall, a treasure trove of valuables was seized in raids on properties linked to Najib and his family - including cash, jewellery and luxury handbags - worth up to $273 million.

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