Asia-Pacific News

Probe finds $700M flowed to Malaysia PM's accounts: WSJ

Probe finds 1MDB money in Malaysia PM's accounts: WSJ
Probe finds 1MDB money in Malaysia PM's accounts: WSJ

Nearly $700 million of deposits were made into what are believed to be the personal bank accounts of Malaysia's Prime Minister Najib Razak, according to documents from a government investigation of a controversial state investment fund, the Wall Street Journal reported Friday.

The document shows the movement of cash from 1Malaysia Development, or 1MDB, through government agencies, banks and companies, before it landed at Najib's accounts, directly connecting the prime minister to the deeply indebted fund for the first time, the WSJ reported.

Najib has previously denied involvement and a government spokesperson said the prime minister hasn't taken any funds for personal use, calling the document "baseless smears" from political opponents, the report said.

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A spokesperson for 1MDB said the fund wasn't aware of the tranfers to Najib's account, adding that doctored documents have previously been used to "discredit" the fund and the government, the report said.

The investigation hasn't shown what happened to the funds after they went into the personal accounts, the report said, noting that 1MDB owes around $11 billion.

The WSJ report can be seen here.