Najib to be charged under money-laundering act

Malaysia's former prime minister Najib Razak arrives for a court appearance at the Duta court complex in Kuala Lumpur

In a packed Kuala Lumpur courtroom, the three new charges were read out to Najib.

These are in addition to the charges he faced last month after he was first arrested - three for criminal breach of trust and a separate count that he abused his position to take the money.

This follows his court appearance on July 4, when Najib was charged with three counts of criminal breach of trust and one count of abuse of power over funds totalling RM42 million (S$14.1 million) belonging to SRC International, a former subsidiary of state fund 1Malaysia Development Berhad (1MDB).

He might get a jail term of up to 15 years and a fine of minimum fives times the value of illegal transfers.

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"He will be charged under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) 2001", said the MACC.

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

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When asked if he felt the charges were politically motivated, Hishammuddin said it was not for him to say. That time he pleaded not guilty to the charges and was released on bail.

His is accused of having received 42m ringgit ($10m; £8m) from state fund 1MDB in his personal bank account.

SRC, created in 2011 by Najib's government to pursue overseas investment in energy resources, was a unit of 1MDB until it was moved to the finance ministry in 2012.

Investigations into 1MDB have been moving swiftly. Police have also seized jewelry and valuables valued at more than 1.1 billion ringgit ($270.2 million) from properties linked to Najib.

Razak was barred from leaving the country and the case was reopened after he lost the elections to his former mentor Mahathir Mohamad on May 9. On Tuesday, a luxury yacht allegedly paid for with about $250m stolen from 1MDB arrived outside Kuala Lumpur after being handed over by Indonesian authorities, who impounded it following a request for the US Department of Justice.

Lawsuits filed in U.S. courts by the Department of Justice allege that an estimated $4.5bn was misappropriated from 1MDB by high-level officials of the fund and their associates.

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