Najib says will decide soon on legal action against WSJ over graft claims

Malaysia’s Prime Minister Najib Razak speaks to the media at a mosque outside Kuala Lumpur, Malaysia, July 5, 2015. — Reuters pic
Malaysia’s Prime Minister Najib Razak speaks to the media at a mosque outside Kuala Lumpur, Malaysia, July 5, 2015. — Reuters pic

SEMENYIH, July 5 — Prime Minister Datuk Seri Najib Razak said today that he will make a decision on what legal action to take following allegations by the Wall Street Journal (WSJ) that he embezzled US$700 million (RM2.6 billion) from 1Malaysia Development Berhad (1MDB) in a few days’ time.

He added that he may take legal action locally as well as against parties outside Malaysia, but has yet to make a decision.

“I will make a decision in a few days about what further action I will take about these malicious allegations.

“I referred this to my lawyers and my lawyers will advise me on what follow up legal action I can take both in and outside the country,” he said during a press conference here today.

This comes after The Star Online today quoted an unnamed source as saying that Najib would sue WSJ on Tuesday for publishing the report alleging that Najib had used RM2.8 billion of 1MDB’s funds for his personal gain.

The Journal reported Friday that 1MDB investigators have discovered five separate deposits from two sources that were made into Najib’s accounts, citing government documents that it claimed to have viewed.

The largest two transactions, it said, were for US$621 million (RM2.3 billion) and US$61 million allegedly made in March 2013, shortly before the tumultuous Election 2013 in May.

A further transfer of RM42 million, purportedly made into Najib’s account at the end of 2014 and the beginning of 2015, is believed to have come from SRC International Sdn Bhd, a former subsidiary of 1MDB that was in 2012 parked under the Finance Ministry that Najib heads, WSJ said.

Malaysian authorities are investigating the alleged money trail that involves several companies that purportedly channelled the funds to Najib’s bank accounts, including SRC International, Ihsan Perdana Sdn Bhd and Gandingan Mentari Sdn Bhd.

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