Malaysia's scandal-ridden former leader Najib Razak was hit with a travel ban on Saturday as speculation mounted he was about to flee the country following his shock election loss, in a possible bid to avoid prosecution over a massive financial scandal. Now they just might find out all the juicy details.
Malaysia's new finance minister is seen as a safe pair of hands as he takes on the enormous task of bringing down debt while scrapping a consumption tax that was key to Prime Minister Mahathir Mohamad's unexpected election win last week.
The announcement comes after he was defeated in general elections on Wednesday by former strongman Mahatir Mohamad, once Najib's mentor. Najib - who chaired 1MDB's advisory board - has denied any wrongdoing.
Former prime minister Najib Razak's government approved the Anti-Fake News 2018 bill last month, which set out fines of up to 500,000 ringgit ($126,646.40) and a maximum six years in jail for violators.
A revitalized probe would reverberate around the world, with investigations ongoing in a number of countries. USA investigators say Najib's associates stole and laundered $4.5bn from the fund, with some $700m landing in Najib's bank account and around $30m used to buy jewellery for his wife.
Mahathir has vowed that "heads must fall" in government bodies suspected of colluding in corruption, and on Monday the head of the Malaysian Anti-Corruption Commission - which had targeted critics of Najib - resigned. Mahathir is investigating government agencies and barring all civil servants from receiving material gifts and donations. Meanwhile Singapore and Switzerland reprimanded banks such as UBS Group AG and JPMorgan Chase & Co. for anti-money laundering lapses.
In a special announcement aired live on television, the Prime Minister also unveiled steps to boost investor and business confidence in Malaysia.
The accusations surround the state funds called 1MDB. U.S.
Mahathir said he hopes to form his core cabinet within this week, after appointing three ministers over the weekend.
Mazlan said police were acting after a complaint, based on video footage, that a van with a logo from the department of the prime minister and cabinet had delivered boxes carrying designer handbags to the apartment for Najib's wife, Rosmah Mansor. "It takes time", he said.
Analysts previously said the National Front might lose the popular vote but hold onto a majority in parliament due to an electoral system that gives more power to rural Malays, the party's traditional supporters.
Mahathir, admitting that "many of us have less or no experience in running a government", said some expertise of those with knowledge or previous knowledge of any administration needed to be tapped.
- Supreme Court Lifts Ban On Sports Gambling
- France vows pushback against U.S. sanctions on Iran
- Canadian-Born Actress Margot Kidder Dead At 69
- Sundar Pichai lauds Kohli, De Villiers after match
- Countries that continue to deal with Iran could face United States sanctions: Bolton
- Bethesda officially announces Rage 2
- Lee finishes 7th at Players Championship
- Sanctions on Iran to affect oil supply balance
- Facebook suspends around 200 suspicious apps of "thousands investigated"
- Pompeo promises North Korea a rosy future as USA 'partner'