Published: Tue, May 15, 2018
Global News | By Stacy Ballard

Najib accused of blocking 1MDB probe as Mahathir starts work

Najib accused of blocking 1MDB probe as Mahathir starts work

Malaysia's biggest funds are headed by executives mostly appointed during the almost decade-long tenure of ousted Prime Minister Najib Razak.

Meanwhile, police have denied raiding a luxury condominium in Kuala Lumpur on Saturday that was allegedly linked to family members of Mr Najib.

His Majesty King Abdullah on Saturday sent a cable of congratulations to Malaysian Prime Minister Mahathir Mohamad, on assumption of the premiership of Malaysia.

No Holiday Ousted Malaysian Prime Minister Najib Razak (R) is hugged by Ahmad Zahid Hamid, former deputy prime minister, during a news conference in Kuala Lumpur, Malaysia May 12, 2018.

Both men were among senior government officials installed by Najib in July 2015 as talk was swirling that public prosecutors were looking into whether the premier at the time had links to the multibillion-dollar corruption scandal at the state fund 1MDB.

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US investigators say Najib's associates stole and laundered $4.5 billion from the fund, with some $700 million landing in Najib's bank account and about $30 million being used to buy jewelry for his wife.

Dr Mahathir said foreign participation in big infrastructure projects will only be allowed if there is no expertise in Malaysia to carry out the project.

Just five days into the job, Dr Mahathir is already looking at reopening investigations into 1MDB, which at the height of the scandal, had debts of up to RM50 billion.

Anwar is in prison on corruption and sodomy charges that were widely denounced as politically motivated. The announcement came after calls from the organization, the linchpin of the coalition, for Najib to resign.

The three names falls short of his earlier promise to announce 10 ministers and are much fewer than the previous number of more than 25.

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"I don't go around catching people".

As Najib's travels were restricted, so Anwar Ibrahim, the jailed opposition leader to whom Mahathir has promised to hand power, was...

Markets had been closed since last Wednesday's election, which unexpectedly swept Mahathir Mohamad back to the office of prime minister, and traders had widely expected stock prices and the currency to drop.

Anwar's daughter Nurul Izzah told Reuters her father was likely to be freed on Tuesday.

Mahathir has been prime minister of the Muslim Malay-majority nation earlier, for 22 years, governing in a tough, direct style.

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The prime minister also said that while there is not a complete ban against former government officials leaving the country, several individuals are now under investigation for alleged wrongdoings.

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