Mahathir Steps Up Probe Into Malaysia’s Missing 1MDB Billions

Malaysian prime minister Mahathir Mohamad moved quickly to investigate alleged corruption by Najib Razak, the man he defeated in last week’s surprise election win, forcing out the head of the country’s anti-corruption watchdog and the attorney-general ahead of a probe into the multibillion-dollar 1MDB fund.

Dzulkifli Ahmad on Monday resigned as head of the Malaysian Anti-Corruption Commission (MACC), while attorney-general Mohamed Apandi Ali was placed on leave.

“There have been a lot of complaints against the AG but no formal report,” the 92-year-old premier said.

“On that basis we give him a holiday.” Mr Mahathir’s Pakatan Harapan coalition last week won a stunning election victory partly on a platform of investigating how billions of dollars were lost from 1Malaysia Development Berhad, the south-east Asian nation’s sovereign wealth fund.

The US Department of Justice says that more than $4.5bn was misappropriated from the fund.

Mr Najib appointed Mr Dzulkifli to lead the corruption commission in August 2016 after Mr Najib had already been cleared of wrongdoing in relation to 1MDB. Almost $700m was paid to Mr Najib’s bank account — cash that the former prime minister said was a gift from Saudi royalty.

Source: Financial Times

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