Former Malaysian leader Najib arrested, faces new charges in 1MDB scandal: WSJ

Sep. 20, 2018 11:48 AM ETiShares MSCI Malaysia ETF (EWM)EWMBy: Liz Kiesche, SA News Editor1 Comment
  • Malaysian antigraft authorities arrested Former Malaysian Prime Minister Najib Razak Wednesday in connection with the 1MDB financial scandal and his alleged receipt of more than $600M into his bank account, the Wall Street Journal reports.
  • Najib will face several charges--relating to a law that prohibits public officials from using their positions for personal benefit--once they are approved by Malaysia's attorney general.
  • Police, who are running a separate investigation into money missing from the sovereign wealth fund, say 21 other charges will be made against him for receiving stolen money, using illegal money, and transferring illegal money.
  • Previously: Singapore interviews Deutsche Bank exec on 1MDB scandal: WSJ (Sept. 17)
  • ETFs: EWM

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