Malaysian Ex-PM Najib Razak Stands Trial In 1MDB Scandal

Kuala Lumpur: Malaysia’s former Prime Minister Najib Razak appeared in a court on Wednesday over alleged abuse of power and corruption accusations related to the 1MDB scandal. Najib Razak faces 42 charges of corruption relating to a scandal in the 1Malaysia Development Berhad (1MDB), the sovereign fund he set up and allegedly embezzled billions of dollars from. As per the charge, the 65-year-old politician who led the nation from 2009 to 2018 diverted about 2.6 billion ringgit ($637 million) to private accounts. Najib Razak pleaded not guilty to all the charges. While he faces several criminal cases, Wednesday’s trial was the first in the scandal, the BBC reported. The 1MDB fund was designed to boost Malaysia’s economy through strategic investments, but it allegedly funded lavish lifestyles, a Hollywood film and a super-yacht. (IANS)

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