Former Malaysian PM Najib arrested on graft charges

Kuala Lumpur, July 3: Former Malaysian Prime Minister Najib Razak was arrested on Tuesday by anti-corruption authorities in relation to state development fund 1MDB graft scandal. The Malaysian Anti-Corruption Commission (MACC) said in a statement that Najib was arrested at around 2.35 p.m. (local time) from his private house over investigation linked to SRC International, a former unit of 1MDB, the BBC reported. Najib has been accused of pocketing $700 million from the fund, set up by him in 2009. Billions of dollars are unaccounted for from the fund, authorities say. MACC said Najib will be charged at the Kuala Lumpur court on Wednesday. He has been under investigation since his shock election loss in May to Prime Minister Mahathir Mohamad. Najib denies wrongdoing. (IANS)