Former Malaysian PM charged with money laundering
Bangkok, Aug 8: Former Malaysian Prime Minister Najib Razak was on Wednesday charged in a Kuala Lumpur court on three new counts related to a corruption scandal linked to the 1Malaysia Development Berhad state fund.
He pleaded not guilty to the charges brought against him, Efe news reported.
Razak was charged under a money laundering act with three counts of receiving a total of RM42 million ($10.3 million) from unlawful activities into two bank accounts from SRC International, a 1MDB subsidiary, Malaysian state news agency Bernama reported.
He allegedly received transfers of RM27 million, RM10 million and RM5 million between December 26, 2014 and February 10, 2015.
The indictments carry a maximum penalty of 15 years in jail per charge and a possible fine of five times the amount of money allegedly received illegally.
The charges were added to an earlier four - three counts of criminal breach of trust and one count of abuse of power - imposed in July on Najib, who founded and chaired 1MDB after becoming prime minister in 2009.
Each of these earlier charges, allegedly committed between 2011 and 2015, carries a maximum sentence of 20 years in prison. Razak also pleaded not guilty to those first four charges before being released on bail.
Razak's fall from grace came after losing the May 9 elections to his former mentor Mahathir Mohamad in a historic victory against Barisan Nasional (National Front) which has ruled uninterrupted from 1974.
The government currently headed by 92-year-old Mahathir has reopened and expedited cases against Najib, including those surrounding the 1MDB scandal.
A media investigation reported in 2015 the transfer of $681 million from 1MDB to Najib's private accounts. He has denied any illegal activity.
In addition to Malaysia, the United States, Switzerland and Singapore are among half a dozen countries investigating the alleged embezzlement.
The US Department of Justice estimates the money diverted from 1MDB to be $4.5 billion, of which about $1 billion may have been laundered in the US through the purchase of real estate, yachts, jewellery and works of art, among others.
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Guarantee schemes model for empowering poor, Cong will return to power in 2028: Siddaramaiah
Mangaluru (PTI): Karnataka Chief Minister Siddaramaiah on Saturday expressed confidence that the Congress government would return to power in the state in 2028.
He asserted that the five guarantee schemes introduced in 2023 have become a model for empowering the underprivileged, women, the unemployed and economically weaker sections, not just in the state but in the entire country.
Addressing a gathering after inaugurating a Kambala event at Muduru-Paduru in Bantwal taluk of Dakshina Kannada district, he said the welfare measures reflected the vision of the Congress government to strengthen social and economic democracy.
"The five guarantees were introduced with the sole objective of empowering the poor, marginalised and weaker sections of society. These schemes have now become a model for ensuring social and economic justice," he said.
Siddaramaiah said democracy should not remain confined to political representation alone but must also ensure social and economic empowerment.
"A democracy that is only political has little meaning unless it is socially and economically vibrant," he said, adding that the state government was working towards that goal.
The CM also praised senior Congress leader and former minister B Ramanath Rai, who organised the event, describing him as one of the most honest leaders and recalling his role in bringing developmental works worth about Rs 5,000 crore to the constituency during his tenure as MLA and minister.
Despite his contributions, Rai had lost the Assembly election from Bantwal, Siddaramaiah said, expressing hope that he would contest again from the constituency in 2028 and secure victory.
He also lauded the people of the coastal region for preserving traditional cultural practices and organising Kambala races, terming the slush track buffalo race a popular folk sport of the state.
