Kuala Lumpur: Former Malaysian PM Najib Razak pleaded not guilty onto three new money-laundering charges related to the alleged multibillion-dollar looting of a state investment fund that led to his stunning electoral defeat three months ago.
Dressed in a grey suit, Najib was calm and spoke softly as he entered his plea in the High Court. He has earlier accused Malaysia’s new government of see-king political vengeance and vowed to clear his name in his trial.
Najib, 65, had pleaded not guilty in July to abuse of power and three counts of criminal breach of trust.
All of the charges against him involve the transfer of 42 million ringgit ($10.3 million) into his bank accounts from SRC International, a former unit of the 1MDB fund that international investigators say was looted of billions by Najib’s associates.
Abuse of power and breach of trust carry a maximum penalty of 20 years in prison for each count. Each money-laundering count carries a penalty of up to 15 years in prison and a fine of not less than five times the sum laundered.
Najib set up 1MDB when he took power in 2009 for promoting economic development, but the fund amassed billions in debts and is being probed in the US and other countries for money laundering.
