Former Prime Minister of Malaysia Najib Razak (pictured) was arrested on Tuesday, as part of the probe regarding alleged wrongdoing related to the country's state fund 1Malaysia Development Bhd (1MBD). The ex-prime minister is expected to be charged on Wednesday.
The indictment is related to suspicious money transfer into Najib's accounts from SRC International, former 1MBD subsidiary. Around $4.5 billion have allegedly gone missing from Malaysia's state fund. In 2016, Swiss BSI Bank operating in Singapore was ordered to shut down all operations, as part of the Monetary Authority of Singapore (MAS) probes into 1MBD fund.
Najib denied accusations of funds manipulation since 2015, when the scandal was first revealed. Malaysia's Prime Minister Mahathir Mohamad ordered an investigation of the case after winning May's elections.
