Funds deposited into Malaysian Prime Minister Najib Razak’s bank accounts were from a donation, not from debt-laden state fund 1Malaysia Development Berhad (1MDB), the anti-corruption commission said yesterday.
Acknowledging that 2.6 billion ringgit (£433.1 million) in funds were transferred into Najib’s private accounts, the commission said results of the investigations found that it was a “donor’s contribution.”
The Wall Street Journal reported in July that investigators looking into 1MDB found that nearly $700 million was deposited into Najib’s private bank accounts. Najib has denied taking any money for personal gain.
State-owned 1MDB has debts of over $11 billion (£7.05 billion) and Najib is the chairman of its advisory board. Najib sacked his deputy last week after he called on Najib publicly to explain the situation around 1MDB.