Malaysia freezes Najib’s party bank accounts linked to 1MDB

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Kuala Lumpur, June 29 (IANS) The Malaysian government said on Friday that it has frozen several bank accounts related to the political party of former Prime Minister Najib Razak in the 1Malaysia Development Bhd (1MDB) corruption probe.

The special task force for the 1MDB probe said in a statement that these bank accounts were held by individuals and several organisations, including the United Malays National Organisation (UMNO) and other political parties.

“These accounts are believed to have links with the misappropriated 1MDB funds,” it said.

It was also reported by the local media that 1MDB has sacked its president and chief executive officer Arul Kanda Kandasam. Arul joined 1MDB in 2015 to turnaround the debt-laden state fund.

Police said earlier this week that they seized cash amounting to $226 million and luxury items worth $273 million from Najib’s premises in connection with the 1MDB probe.

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Cash in 26 currencies was confiscated, besides 25 bags of gold, 12,000 items of jewellery, 567 luxury handbags, 423 watches and 234 sunglasses in the largest seizure in the probe so far, authorities said.

The items were seized from six premises — the Prime Minister’s official residence and office in Putrajaya, three luxury condominiums in downtown Kuala Lumpur and Najib’s private house.

–IANS

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