The trial of former Malaysian Prime Minister Najib Razak over his alleged involvement in the scandal involving the country's investment fund started on Wednesday, according to media reports.
Najib was arrested in July before being charged with criminal breach of trust and corruption following a graft scandal related to Malaysia’s state investment fund 1Malaysia Development Berhard (1MDB). At the start of the trial on Wednesday, he denied seven charges of corruption and money-laundering against him. The former prime minister's defence team also made a last-minute application to adjourn proceedings, which was deferred to another date by the judge.
In other related news, Malaysia sold on Wednesday the superyacht that was alleged to have been purchased with funds stolen from the 1MDB fund to casino firm Genting Malaysia for $126 million. The yacht was allegedly purchased by businessman Low Taek Jho before being confiscated by authorities last year. Low likewise faces charges related to the scandal but remains at large.
