USA prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen by the prime minister, and used to finance “The Wolf of Wall Street” film, and to buy property and works of art.
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Asked for his comments, Najib said: “Allow the process to take its course but I want to say categorically that we are serious about good governance”.
Najib said he viewed the USA action seriously but pointed out that it was limited to the individuals named in the complaints.
Political risk consultants Eurasia said since Najib was not directly named in the lawsuits that “will afford him protection”.
The investigation is the largest set of cases brought by the U.S. Department of Justice’s Kleptocracy Asset Recovery Initiative, which seeks the forfeiture of the proceeds of foreign corruption.
The assets targeted are believed to have been purchased with money stolen from state investment fund 1MDB and include fine art, high-end U.S. real estate, and a business jet. 1MDB is still the subject of an investigation by the Royal Malaysia Police.
The story about the US lawsuits made headlines around the world, but not in Malaysia, where major local newspapers, controlled directly or indirectly by the government, and the state news agency largely ignored it on Thursday.
The US complaint alleged that high-flying Malaysian businessman Low Taek Jho, or “Jho Low”, a close Najib family friend who helped create 1MDB, laundered hundreds of millions into the United States to fund such purchases and a lavish lifestyle.
1MDB said in a statement “it is not a party to the civil suit, does not have any assets in the United States of America, nor has it benefited from the various transactions described in the civil suit”. “It’s our prime minister”, Ambiga Sreenevasan, an activist lawyer, said at a news conference Thursday, which was also addressed by former Prime Minister Mahathir Mohamad, a one-time Najib mentor and now one of his biggest critics.
The filing said “Malaysian Official 1” was the “ultimate beneficiary” of a Malaysian bank account that held tens of millions of allegedly misappropriated funds.
Allegations against 1MDB have gained steam over the months, but Najib has steadfastly denied any involvement or wrongdoing.
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“As the prime minister has always maintained, if any wrongdoing is proven, the law will be enforced without exception”, said Razak’s press secretary, , Tengku Sariffuddin, in a statement. The opposition is too weak in Malaysia to dislodge him.
