Malaysian ex-PM Najib combative ahead of 1MDB graft trial
KUALA LUMPUR, Malaysia — From appearing in an R&B music video and trolling social media to vilify the new government, former Malaysian Prime Minister Najib Razak has been combative before the start of his graft trial, linked to the multibillion-dollar looting of the 1MDB state investment fund that has battered the country’s standing abroad.
The trial starting Tuesday comes nine months after Najib’s spectacular election defeat, spurred by voters’ furor over the 1MDB scandal that is being investigated in the U.S. and several other countries for alleged cross-border money laundering and embezzlement.
U.S. investigators say more than $4.5 billion was stolen from 1MDB by associates of Najib between 2009 and 2014 and the ill-gotten gains were laundered through layers of bank accounts in the U.S. and other countries to finance Hollywood films and buy hotels, a luxury yacht, art works, jewelry and other extravagances. Some $700 million from the fund that Najib set up for Malaysia’s economic development allegedly landed in his own bank account.