Najib's stepson Riza Aziz at MACC HQ to have statement recorded

April FrancisJul 04, 2018

Malaysia's former prime minister Najib Razak arrives to give a statement to the Malaysian Anti-Corruption Commission (MACC) in Putrajaya, Malaysia, May 24, 2018.

Shortly after his ouster, a vast trove of valuables was seized in raids on properties linked to Mr Najib and his family, including cash, jewellery and luxury handbags, worth up to US$273 million.

Alleged corruption at the 1MDB fund helped bring on the unexpected defeat of Najib's coalition in the May 9 polls.

This story is developing.

Malaysia's official news agency Bernama said Mr Najib is expected to face more than 10 counts of committing criminal breach of trust linked to SRC International Sdn Bhd, an energy company that was originally a subsidiary of 1MDB.

"1MDB's Task Force confirmed the arrest of Datuk Seri Mohd Najib Tun Razak", it said.

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Najib was arrested by Malaysian anti-corruption agents and Malaysian authorities said he will be charged in court on Wednesday.

In the USA, his production company had reached a US$60 million settlement in a suit that alleged the movie was funded by money siphoned from 1MDB.

"This was the inevitable outcome when Najib lost the election and lost his political immunity", Bridget Welsh, a political science professor at John Cabot University in Rome, said in an email. That includes real estate, art and proceeds from "The Wolf of Wall Street", which was directed by Martin Scorsese and starred Leonardo DiCaprio.

Riza is the co-founder of Red Granite Pictures, a company that US prosecutors say financed three Hollywood films, including the 2013 Martin Scorsese movie "The Wolf of Wall Street", with funds misappropriated by 1MDB. They say hundreds of millions from 1MDB landed in Najib's bank accounts.

The accounts of several companies were also frozen as part of the investigation, the taskforce said.

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