Bn Najib: Mdb Scandal and Wealth Fund

bn najib: Riza has previously been questioned in relation to the multibillion-dollar 1MDB scandal, in which Najib was accused of involvement in a sovereign wealth fund that was allegedly used to steal more than 3bn, according to The Guardian. Najib denied charges of involvement in the schemes in May, in the first of multiple trials related to the scandal. Riza Aziz was detained on Thursday but released on bail, according to Malaysia's Anti-Corruption Commission MACC chief Latheefa Koya, who said the film producer would face money-laundering charges on Friday. The controversy helped to end the 60-year dominance of Malaysian politics by Najib's Barisan Nasional coalition. Riza's film production company, Red Granite, last year paid US authorities 60m to settle charges of involvement without admitting wrongdoing, after it was alleged to have used misappropriated money to fund Oscar-nominated The Wolf of Wall Street and other films. The effects of the scandal have been felt around the world, from the seizure of a 95m yacht in Bali allegedly bought with stolen funds, to criminal charges against US investment bank Goldman Sachs. (news.financializer.com). As reported in the news.

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