Sunday, November 24, 2024

Ex-Malaysia PM Najib facing money laundering charges

Must read

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...
Isaac Kaledzihttps://en.wikipedia.org/wiki/Isaac_Kaledzi
Isaac Kaledzi is an experienced and award winning journalist from Ghana. He has worked for several media brands both in Ghana and on the International scene. Isaac Kaledzi is currently serving as an African Correspondent for DW.

Malaysia’s former prime minister, Najib Razak, has been charged with 21 counts of money laundering, in a case linked to a multi-million dollar corruption scandal.

He was charged in court on Thursday in relation to the alleged transfer of $556m (£421m) from state fund 1MDB into his personal bank account.

He was also charged with four counts of abuse of power.

Mr Najib has pleaded not guilty to all 25 charges.

The latest charges come on top of three counts of money laundering levelled against him in August.

Mr Najib, members of his family and several allies are accused of embezzling huge sums allegedly used to buy everything from artwork to high-end real estate around the globe.

The allegations played a central role in his defeat in an election that was eventually won by his former mentor and long-time PM, 93-year old Mahathir Mohamad.

1MDB, set up by Mr Najib in 2009, was meant to turn the capital, Kuala Lumpur, into a financial hub and boost the economy through strategic investments.

Instead, it started to attract negative attention in early 2015 after it missed payments for some of the $11bn it owed to banks and bondholders.

Then the Wall Street Journal reported it had seen a paper trail that allegedly traced close to $700m from the fund to Mr Najib’s personal bank accounts.

Billions of dollars are still unaccounted for.

 

 

Source: BBC

- Advertisement -

More articles

- Advertisement -

Latest article

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...

Ghana’s new law that jails citizens not wearing facemask 10 years

Ghanaians who fail to wear the face masks in compliance with a presidential directive risk going to jail for ten years. They also face a...