Malaysian PM Najib Razak to face US corruption inquiryIn more trouble for Malaysian Prime Minister Najib Razak, the US Justice department has started an investigation into shell companies allegedly linked to his stepson, Riza Aziz, that acquired US properties. The Justice Department's Kleptocracy Asset Recovery Initiative's focus is on the state-run 1 Malaysia Development Berhard (1MDB) fund, whose advisory board is chaired by Razak.
The investigators will try to find out if these properties in question were bought with £450m ($700m) allegedly transferred to the Malaysian PM's personal bank account from 1MDB, according to a Wall Street Journal (WSJ) report. The properties could be seized if a case could be made that they were purchased with proceeds earned from corrupt practices. The investigation will also take into account other real estate purchases in the US connected to Razak's close family friend, Malaysian billionaire Low Taek Jho.
The Federal Bureau of Investigation (FBI) is also learnt to be involved with the investigation, given the global impact the case has had in the last couple of months.