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KUALA LUMPUR (Aug 8): Former prime minister Datuk Seri Najib Tun Razak was today charged with three counts of money laundering in relation to a probe into 1Malaysia Development Bhd's former subsidiary SRC International Sdn Bhd.
The three charges, read before Sessions Court Judge Azura Alwi, involved three separate sums of RM27 million, RM5 million and RM10 million respectively. The charges alleged that the money transfer was done via Real Time Electronic Transfer of Funds and Securities (Rentas) at AmIslamic Bank Bhd on Dec 26, 2014 and Feb 10, 2015.
Today, the three charges were based on Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which carries a maximum imprisonment term of 15 years and fine of not less than five times the sum or value of the proceeds from the alleged crime.
Datuk Mohamad Hanafiah Raslan is leading the prosecution team comprising 11 lawyers from the Attorney-General's Chambers. Meanwhile, Tan Sri Muhammad Shafee Abdullah is leading the defence team comprising seven lawyers and two chambering students.
The case is now being transferred to the High Court for further deliberation. — theedgemarkets.com
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