Malaysian ex-PM Najib charged with money-laundering

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KUALA LUMPUR: Malaysia’s embattled former Prime Minister Najib Razak was charged on Wednesday with three counts of money laundering as part of a probe into money missing from state fund 1Malaysia Development Berhad (1MDB).

The charges, read out in a lower court, were related to three electronic transfers amounting to 42 million ringgit ($10 million) from SRC International, a former 1MDB unit, into Najib’s personal bank account.

The judge transferred the case to the high court to be heard later on Wednesday, along with previous charges.

The money laundering offence carries a penalty of a jail term of up to 15 years and a fine of not less than 5 times the value of the proceeds of any illegal transfers, or five million ringgit, whichever is the higher.

Last month, Najib was arrested and charged with abuse of power and criminal breach of trust following a probe into SRC International. He has pleaded not guilty to those charges and was released after posting bail, but his passport…

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