1MDB trial postponed as former PM faces up to 42 criminal charges
- Asian Market
- 2 months ago
The Kuala Lumpur High Court has postponed for a week the biggest of five trials linked to a multi-billion-dollar scam at state fund 1Malaysia Development Berhad (1MDB) which also involves former PM Najib Razak.
The former Malaysian PM has some 42 criminal charges to answer to including grafting and money laundering to which he has pleaded not guilty to, although Najib, founded the company 1MDB in 2009 and according to the U.S. Department of Justice, $4.5 billion embezzled in the process.
The trial, which resumes next Monday sees Najib fight 21 charges of money laundering and four of abuse of power for receiving illegal transfers of $550.8 million between 2011 and 2014.
Source: Smart Trend Team