Former Malaysian premier Najib Razak has pleaded not guilty to three charges of money laundering brought against him today in relation to SRC International, a former subsidiary of the state investment fund 1 Malaysia Development Berhad (1MDB).
He was charged under s.4(1)(b) Anti-Money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act for allegedly funnelling RM42 million into his personal bank account via electronic transfer at an AmBank Branch at Jalan Raja Chulan, in the capital city of Kuala Lumpur, between December 2014 and February 2015.
Should he be found guilty, he will face a maximum of 15 years in jail, and no less than five times the sum of money involved or a RM5 million fine, whichever is higher.
Just last month, Najib, who was also Finance Minster during his tenure, was charged with abuse of power and criminal breach of trust in relation to the same illegal transfer of funds on 4 July.
Consequently, he has pleaded not guilty to all of the charges slapped on him, and was released after posting bail.
Najib was represented by senior counsel Tan Sri Muhammad Shafee Abdullah and his legal team in court today.
Deputy Public Prosecutors Datuk Mohamad Hanafiah Zakaria, Manoj Kurup, and Datuk Suhaimi Ibrahim, among others, acted on behalf of the prosecution team.
The case has been brought to the High Court upon leave granted by Sessions Court judge Azura Alwi after the prosecution had applied for a transfer of the case to the higher court.