Najib Razak held over $628m linked to 1MDB, to be charged

KUALA LUMPUR: Malaysia´s toppled leader Najib Razak was arrested Wednesday and will be charged over allegations that $628 million linked to state investment fund 1MDB ended up in his personal bank accounts, officials said.

Allegations that Najib and his cronies looted huge sums from the investment vehicle were a major factor in the shock defeat of his long-ruling coalition in elections in May, at the hands of a reformist alliance headed by Mahathir Mohamad.

Mahathir, 93, in his second stint as premier after coming out of retirement to take on his ex-protege Najib, has reopened probes into 1MDB that were shut down by the former government, and vowed to bring Najib to justice.

Since losing power, Najib has already been arrested and hit with seven charges related to claims he pocketed some $10 million from a former unit of 1MDB.

However his arrest Wednesday was more significant as it related to a central allegation in the long-running scandal -- that huge sums from the fund flowed into his bank accounts before a hotly contested election in 2013.