Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Najib 1MDB trial: Malaysia ex-PM faces court in global financial scandal
https://www.bbc.com/news/world-asia-47194656Najib 1MDB trial: Malaysia ex-PM faces court in global financial scandal
9 minutes ago
Malaysia's former Prime Minister Najib Razak has gone on trial for his role in a financial scandal that has sent shockwaves around the world.
He faces seven charges in the first of several criminal cases accusing him of pocketing $681m (£522m) from the sovereign wealth fund 1MDB. Mr Najib pleaded not guilty to all the charges on Wednesday.
The 1MDB fund was designed to boost Malaysia's economy through strategic investments. But instead it allegedly funded lavish lifestyles, a Hollywood film and a super-yacht.
(snip)
Malaysia's government has also filed criminal charges against Wall Street firm Goldman Sachs, accusing the investment bank of defrauding investors by raising money for 1MDB. The bank has denied all wrongdoing and said it would "vigorously defend the charges".
(snip)