tommy thomas: More than 4.5bn 3.4bn was allegedly stolen from the fund via an international network of corruption, according to The Guardian. The trial began at Kuala Lumpur's high court with the attorney general, Tommy Thomas, saying Najib wielded near absolute power between 2009-18 as prime minister and finance minister. Ten years to the day after he was sworn in as head of government, the 65-year-old denied all charges on Wednesday at the first of several trials over his alleged involvement in the looting of sovereign wealth fund 1MDB, a state investment vehicle established to develop the economy of the south-east Asian nation. Leading the prosecution, Thomas said the trial would show that the accused was not above the law, and that his prosecution and this trial should serve as precedents for all future holders of this august office . The trial, originally set for February, features seven corruption charges relating to SRC International, a subsidiary of 1MDB. Najib is accused of criminal breach of trust, abuse of power and money laundering connected to 42m Malaysian ringgits 7.8m of SRC funds. The figure is a drop in the ocean of money Najib is accused of stealing, with larger amounts to be addressed in three further 1MDB-related trials. He denies the charges.
(news.financializer.com). As
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