(UTV|COLOMBO) – Malaysia’s former Prime Minister Najib Razak is set to stand trial for his role in a financial scandal that has sent shockwaves around the world.
Mr Najib is accused of pocketing $681m (£522m) from the sovereign wealth fund 1MDB. He denies any wrongdoing.
The fund was meant to boost Malaysia’s economy through strategic investments.
Instead, money from it was allegedly used to fund lavish lifestyles, a Hollywood film and a superyacht.
Mr Najib faces several criminal cases, but this is the first major trial in the scandal.
Proceedings were originally set to begin on 12 February, but were delayed for related appeals to be heard.
Malaysia’s government has also filed criminal charges against Wall Street firm Goldman Sachs accusing the investment bank of defrauding investors by raising money for 1MDB.
The bank has denied all wrongdoing and said it would “vigorously defend the charges”.
Courtesy: Foreign Media
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