WSJ: More than 1 billion USD transferred to Malaysian Prime Minister's account

(Baonghean.vn) - Deposits into Malaysian Prime Minister Najib Razak's bank accounts are hundreds of millions of dollars higher than the figure determined in previous investigations into the 1MDB fund, the Wall Street Journal reported on March 1.

Malaysian Prime Minister Najib Razak announces amendments to the financial budget in Putrajaya, Malaysia on January 28. Photo: Reuters.

Citing two unnamed individuals familiar with the cash flows into Mr Najib’s account and another person close to an overseas investigation, the source said that from 2011 to 2013, more than $1 billion was deposited into the account, higher than the $681 million previously identified.

The WSJ said investigators believe most of the $1 billion came from public funds, commonly known as 1MDB, but did not say specifically where the extra money came from or what happened to it.

The report contradicts a recent conclusion by Malaysia’s law chief. Attorney General Mohamed Apandi Ali cleared Najib of all corruption and criminal charges in January, saying $681 million transferred into his bank account was a gift from a member of the Saudi royal family and that most of the money had been returned.

The Malaysian Prime Minister’s Office has not commented on the matter. For months, Najib has been battling multiple allegations of bribery and financial mismanagement at the debt-ridden 1MDB fund, and has been particularly affected by revelations about $681 million transferred into his personal bank account in 2013.

He has denied all charges, saying they were legitimate political contributions and that he did not accept any money for personal gain.

The WSJ said that the money, in addition to the $681 million, appeared in Mr. Najib's account in 2011-2012. The newspaper said investigators in both countries believe the money originated from 1MDB and went through a complex network of transactions. Mr. Najib is currently the chairman of the advisory board of 1MDB, a fund established in 2009 when he took office, with the aim of investing in projects of national importance.

Responding to the WSJ report, 1MDB has maintained that the fund did not transfer any money to Prime Minister Najib’s personal account. The fund’s emailed response read: “This has been repeatedly confirmed by various authorities, including the Malaysian Anti-Corruption Commission, the Attorney General of Malaysia, and reputable international publications, that the funds originated from Saudi Arabia.”

Investigations into the fund's finances have been conducted in Malaysia, the United States, Switzerland, Hong Kong, Singapore and Abu Dhabi, the WSJ added.

Thu Giang

(According to Reuters)