Former Malaysian Prime Minister Najib Spent $800,000 in One Day
Najib used his credit card to buy a large amount of valuable jewelry while in Italy, but he explained that it was a gift for a foreign delegation.
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Former Malaysian Prime Minister Najib Razak. Photo:Reuters. |
During the trial of former Malaysian Prime Minister Najib Razak in Kuala Lumpur yesterday, prosecutors said he used a credit card to pay 3.3 million ringgit (about 803,000 USD) for purchases at a luxury jewelry store in Italy on August 8, 2014 alone.
A few months later, the former prime minister continued to spend 466,000 ringgit (more than 113,000 USD) at a fashion store in Hawaii, USA and 127,000 ringgit (31,000 USD) at a luxury hotel in Bangkok, Thailand.
Prosecutors said the payments were made using Mr Najib’s Ambank account, and they produced credit card receipts as evidence against the former prime minister in court.
The trial was held to consider allegations that Mr Najib misused funds from SRC International, a subsidiary of state development fund 1MDB, which is under investigation for a multi-billion-dollar embezzlement scandal.
Najib is said to have received $681 million from 1MDB into his personal bank account to support the lavish lifestyle of him and his wife Rosmah Mansour. After the two were arrested, police searched their residence and discovered countless luxury goods and jewelry worth a total of $273 million. However, the former prime minister and his wife have denied all allegations.
"The expenditure was to buy gifts for senior members and delegations of a country that has good relations with Malaysia. It is normal to give gifts to foreign government leaders," Mr. Najib explained on Facebook last night, referring to the expenditure of more than $800,000, but did not disclose which government delegation received the jewelry.
Najib and his wife were banned from leaving Malaysia after he lost the May 2018 election to his rival Mahathir Mohamad. After winning the election, Prime Minister Mahathir ordered an investigation into 1MDB. Former Prime Minister Najib now faces 25 charges of money laundering and abuse of power.