Former Malaysian PM Najib denies corruption charges

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Former Malaysian Prime Minister Najib Razak was granted bail on Wednesday after pleading not guilty to corruption charges, an indictment which could make him the first retired leader behind bars in the country's 61-year history.

Najib was charged with three counts of criminal breach of trust as well as using his position for graft in connection of 42 million ringgit (10.5 million US dollars) from SRC International, a former unit of state development fund 1MDB, that was transferred into Najib's personal account. Each charge carries a penalty of up to 20 years in jail.

Najib has pleaded not guilty to the charges. After much argument in the courtroom, the judge finally granted Najib's bail at 1 million ringgit (247,000 US dollars), with the money to be paid at two tranches, half on Wednesday and the other half before Monday. The judge also asked Najib to surrender his passports.

A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, March 1, 2015. /VCG Photo

The 64-year-old was arrested at his luxury home by officers probing how billions of dollars of state funds disappeared on his watch.

Allegations of massive corruption were a major factor behind the shock election loss in May of Najib's long-ruling coalition to a reformist alliance headed by his 92-year-old former mentor Mahathir Mohamad.

Wednesday's court hearing was the latest step in a quick-moving investigation into alleged wrongdoing by Najib, his family and many of his close political and business allies.

"Najib is the first [former] prime minister ever to be charged in court in the history of Malaysia," said Tian Chua, vice president of Parti Keadilan Rakyat, a key political party in the current ruling coalition.

"It signals a new era where no one in public office will be immune from punitive action if they abuse power," he added.

Malaysia's then-prime minister Najib Razak looks on as his wife Rosmah Mansor waves the Malaysia national flag during an Independence Day rally, August 31, 2012. /VCG Photo

According to an investigation by the Wall Street Journal, 10.6 million US dollars originating from SRC International Sdn Bhd, an energy company that was originally a subsidiary of 1MDB, was transferred to Najib's personal bank accounts.

But this was only a fraction of the total amount allegedly misappropriated from 1MDB. The US Department of Justice has said over 4.5 billion US dollars was siphoned from the fund. The money was apparently used to buy everything from US real estate to artworks.

On Tuesday, a spokesman for the former leader said the SRC charges and the 1MDB investigations against the former leader were "politically motivated", and that Najib will contest the charges and clear his name in court.

Supporters and onlookers outside the court in Kuala Lumpur, Malaysia, on July 4, 2018. /CCTV Photo

Since his loss at the polls, Najib has been barred from leaving the country and had millions of dollars of items seized from properties linked to his family.

On Wednesday, crowds of media and curious onlookers jostled to catch a glance of the former premier, who spent the night in lockup, as he arrived at the court complex in Kuala Lumpur.

Some members of Najib's UMNO party chanted and held up placards in solidarity with their former leader.

Earlier, state news agency Bernama broadcast Najib's convoy live as it moved through morning rush-hour traffic during the long drive from the Malaysian Anti-Corruption Commission's offices in the administrative capital Putrajaya to the court in Kuala Lumpur.

4352km

Source(s): AFP ,Reuters ,Xinhua News Agency