Malaysia’s anti-graft agency questions Najib over multi-million dollar deposits

The RM2.6 billion figure first surfaced after US-based Wall Street Journal reported in July of its purported discovery by government investigators.

Najib had earlier made a commitment to give a statement to the anti-graft agency and his office is also expected to take queries on the matter in parliament later in the day. Mr Najib added in his statement that he had previously mooted a mechanism to monitor political funding, but claimed that it was rejected by the opposition. The commission, which is under the prime minister’s office, said the money came from unnamed donors in the Middle East.

Najib had recently committed to giving a statement to MACC to assist in its ongoing probe, saying that he was advised to do so by Attorney-General Tan Sri Mohd Apandi Ali as it would hasten the investigations.

SRC International Sdn Bhd was formerly a subsidiary of state-owned 1Malaysia Development Berhad (1MDB), but is now parked under the Finance Ministry headed by Najib.

Najib, who chairs the 1MDB advisory board, has denied wrongdoing or taking any money for personal gain.

Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi reiterated on Thursday (Dec 3) that the funds deposited in the prime minister’s personal bank accounts was from donations but he could not elaborate on the money, citing subjudice. The fund is also being investigated by law enforcement agencies in Switzerland, Hong Kong and the United States, media and sources have said.

Critics have accused the authorities of deliberately dragging their feet over the investigation, while the Conference of Rulers last month urged the government to complete the investigations related to 1MDB as soon as possible. In August, tens of thousands of people rallied against Najib, calling on him to step down in connection with 2.6 billion ringgit ($610 million) found in his bank accounts.

The controversy has battered Malaysian markets with the ringgit losing about a quarter of its value to become Asia’s worst-performing currency this year.