- Title: MALAYSIA-1MDB Cabinet ministers to wait for result in Malaysia's 1MDB-Najib probe
- Date: 8th July 2015
- Summary: PUTRAJAYA, MALAYSIA (JULY 8, 2015) (REUTERS) **** WARNING CONTAINS FLASH PHOTOGRAPHY **** PEOPLE SEATED MALAYSIAN DEFENCE MINISTER HISHAMMUDDIN HUSSEIN WALKING IN MINISTERS WALKING IN MALAYSIAN PRIME MINISTER NAJIB RAZAK WALKING IN VARIOUS OF NAJIB SEATED CAMERAMAN FILMING NAJIB STANDING NAJIB STANDING WITH CABINET MINISTERS MINISTER FOR YOUTH AND SPORTS KHAIRY JAMALUDDIN
- Embargoed: 23rd July 2015 13:00
- Keywords:
- Location: Malaysia
- Country: Malaysia
- Topics: General
- Reuters ID: LVA3GFRC312HQJVTWA6NXQZ7YPD4
- Aspect Ratio: 16:9
- Story Text: A Malaysian minister on Wednesday (July 8) said the cabinet will wait for the results of an investigation that involved troubled state investment fund 1MDB and Prime Minister Najib Razak.
Malaysian police raided the office of 1MDB on Wednesday, following a report that claimed investigators looking into the firm found nearly $700 million had been transferred to Najib bank account.
The Wall Street Journal (WSJ) reported last week that investigators probing 1MDB had traced money from the debt-laden fund to Najib's personal account.
Reuters has not independently verified the report.
Najib has denied taking any money from 1MDB or any other entity for personal gain, and is considering legal action.
At a meeting between cabinet ministers and Najib in Putrajaya, Minister for Youth and Sports, Khairy Jamaluddin Abu Bakar was asked about the report.
"We did have a discussion about current issues including the Wall Street Journal article. There was discussion that was started off by Prime Minister, explaining to us that he is still considering legal action, as you all know by now, that the lawyers representing the Prime Minister will send out pre-demand letter to the Wall Street Journal," he said.
Opposition lawmakers have pressed cabinet ministers for a full explanation into the allegations, and asked him to go on leave until a probe is completed.
Members of Najib's party, the United Malays National Organisation (UMNO), have closed ranks behind the prime minister, who had already been on the back foot over alleged mismanagement of 1MDB and his handling of the economy.
Khairy was asked on Wednesday if Najib would have to take a leave of absence.
"No I think the cabinet was very united in the view that the we have to allow for due process to take its course, right now the task force is investigating the matter, the task force that's made up of the Attorney General Chambers, the police, Bank Negara as well as the MACC (Malaysian Anti-Corruption Commission). Until the task force comes up with the results of the investigation, it too premature to comment on anything else," Khairy said.
A task force investigating 1MDB said on Tuesday (July 7) it had frozen half a dozen bank accounts in relation to the allegations, suggesting that it was taking the report seriously, but did not specify whose accounts they were or name the banks.
The team, which includes Malaysia's attorney-general, the central bank governor, the inspector-general of police and the head of the anti-corruption commission, also took possession of documents related to 17 accounts from two banks to help with investigations.
1MDB, a property-to-energy group whose advisory board is chaired by Najib, has debts of around $11 billion.
Even before the WSJ report it was the subject of separate investigations by the central bank, auditor general, police and the parliament's Public Accounts Committee.
1MDB has described the allegations as "unsubstantiated", saying it never provided funds to the prime minister. - Copyright Holder: REUTERS
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