Malaysian State Investment Firm Denies Funneling Funds Into PM's Accounts
Najib Razak, Malaysia's prime minister. Photographer: Goh Seng Chong/Bloomberg
1Malaysia Development Bhd. denied it had funneled funds into Prime Minister Najib Razak’s personal bank accounts, rejecting reports saying investigators believed they had found such a money trail.
About $700 million of funds may have moved through government agencies, banks and companies linked to state investment company 1MDB before apparently appearing in Najib’s accounts, the Wall Street Journal reported, citing documents from a government probe. The Prime Minister’s Office said Friday the claims were part of a “political sabotage” campaign by some individuals seeking to remove Najib from office.
