Former Malaysian PM Najib Razak arrested over corruption

Former Malaysian prime minister Najib Razak has been arrested again in relation to the 1Malaysia Development Berhad (1MDB) scandal. The country's anti-corruption commission said it arrested the former leader on Wednesday afternoon (September 19) over the multi-million-dollar looting of a state investment fund and he will face further charges in court on Thursday. In a statement, the Malaysian Anti-Corruption Commission (MACC) said Mr. Najib will face "several charges", some of which relate to the transfer of money into his account, and abuse of power. Mr. Najib was earlier arrested over the 1MDB scandal in July and was charged with multiple counts of criminal breach of trust, corruption and money laundering over the scandal at the state fund. He pleaded not guilty and was granted bail. Those charges involve the transfer of 42 million ringgit ($13.9 million) into his bank accounts from SRC International, a former unit of the 1MDB fund that international investigators say was looted of billions by Mr Najib's associates. Mr Najib set up 1MDB when he took power in 2009 for the stated purpose of promoting economic development, but the fund amassed billions in debts and is being investigated in the US and several other countries for alleged cross-border embezzlement and money laundering. The US Department of Justice has alleged in civil lawsuits that more than $6.1 billion from 1MDB was laundered through a complex web of transactions and shell companies. It also alleges that $936 million, based on foreign exchange rates at the time of the transaction, of 1MDB funds, went into Mr Najib's bank account. Mr Najib has claimed the money in his account were donations from Saudi Arabia, most of which he returned. Police also seized jewelry and valuables valued at more than 1.1 billion ringgit ($372.5 million) from properties linked to Mr Najib.   Courtesy to ABC News