Malaysia's ex-prime minister Najib charged with money laundering

Former Malaysian prime minister Najib Razak has been charged with three counts of money laundering related to the alleged multibillion-dollar looting of a state investment fund, adding to his troubles just three months after his stunning electoral defeat.

Najib stood calmly in the dock on Wednesday as the charges were read to him. Last month he pleaded not guilty to abuse of power and breach of trust charges.

All of the charges against him involve the transfer of $10.3 million (42 million ringgit)  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.

TRT World spoke to political analyst Phar Kim Beng in Kuala Lumpur for the latest.

Each money-laundering count carries a penalty of up to 15 years in prison and a substantial fine.

Najib pleaded not guilty to the new charges.

The judge transferred the case to the high court to be heard later on Wednesday, along with previous charges. 

The money-laundering offence carries a penalty of a jail term of up to 15 years and a fine of not less than five times the value of the proceeds of any illegal transfers, or $1.2 million (five million ringgit), whichever is the higher. 

TRT World's Zan Azlee has more details from Kuala Lumpur.

Last month, Najib was arrested and charged with abuse of power and criminal breach of trust following a probe into SRC International. He has pleaded not guilty to those charges and was released after posting bail, but his passport was held. 

He and his wife, Rosmah Mansor, have been barred from leaving the country since he lost an election in May, and the new prime minister, his mentor-turned-foe, Mahathir Mohamad relaunched an investigation into 1MDB. 

Earlier, Najib arrived at the courthouse in a four-car motorcade accompanied by his children. He was dressed in a grey suit and sat in the dock looking calm. 

Money allegedly siphoned off from SRC represents only a small fraction of the billions of dollars the US Department of Justice has said was misappropriated from 1MDB. 

Najib had founded 1MDB and headed its advisory board.

Lawsuits filed in US courts by the DOJ allege that an estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates.

1MDB is being investigated by at least six countries, including Singapore, Switzerland and the United States, over alleged money laundering and graft.

Here's a detailed look at the scandal.