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Najib arrested over 1MDB scandal, to be charged today

Najib's Son to be Called in for Questioning at MACC Tomorrow Regarding 1MDB Scandal- WORLD OF BUZZ

Former Malaysian prime minister Najib Razak was arrested Tuesday and will be charged amid an investigation into the disappearance of billions of dollars from a state investment fund he founded, a Malaysian task force said.

Najib and his wife were questioned last month over the SRC case by the anti-graft agency and have both been barred from leaving the country.

Public anger over alleged corruption at the 1MDB fund, which was set up in 2009, helped bring on the shock defeat of Najib's coalition in the May 9 polls.

It is learnt that Najib is being taken to the MACC headquarters now and his family lawyers said he could be charged tomorrow (July 4).

The case against him, which was heard in a lower court, will be transferred to the High Court where Mr Najib is expected to make his plea on Wednesday. Police say they recovered $273m in luxury goods and cash, calling the seizure of valuables the biggest in Malaysian history.

Unlike the earlier commotion when his supporters heckled Attorney General Tommy Thomas to get him to speak in Malay, Najib's exit from the compound did not result in any untoward incident.

Former Malaysian prime minister Najib Razak has been arrested by anti-graft officials.

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The civil suit against Red Granite was part of an effort to recover more than $1 billion that US prosecutors say was stolen from 1MDB.

U.S. investigators say US$4.5 billion was stolen and laundered from 1MDB by Najib's associates, including some US$700 million that landed in Najib's bank account.

He was detained as part of an investigation over the 1MDB corruption scandal.

Najib denied any wrongdoing and said the money was a donation from the Saudi royal family, which he had since returned.

The "former prime minister" distinction here is particularly notable, as the longtime country leader recently-to many analysts' surprise-lost an election to Mahathir Mohamad.

- Red Granite, the company behind the 2013 film, "The Wolf of Wall Street", agrees to pay the United States government US$60 million to settle a civil lawsuit that sought to seize assets allegedly bought with money stolen from 1MDB. Red Granite was unavailable for comment.

SRC has been the initial focus of Malaysian investigators as all the suspicious transactions involving the firm were made through Malaysian entities, unlike other 1MDB related transactions that went through foreign banks and companies.

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