Malaysia PM dismisses graft charges as 'political sabotage'

Malaysian Prime Minister Najib Razak today dismissed as "political sabotage" the allegations that nearly USD 700 million were transferred from a troubled investment fund headed by him to his personal accounts.
The investment fund 1Malaysia Development Bhd (1MDB), which has accrued over USD 11 billion in debt and faced criticism over financial mismanagement, denied any wrongdoing after the Wall Street Journal reported that nearly 700 million were wired into Najib's personal accounts.
"Despite the Prime Minister's successful stewardship of Malaysia's economy against global headwinds - as recognised this week by Fitch's upgrade - there have been concerted efforts by certain individuals to undermine confidence in our economy, tarnish the government, and remove a democratically elected Prime Minister," the Prime Minister's Office said.

"These latest claims, attributed to unnamed investigators as a basis to attack the Prime Minister, are a continuation of this political sabotage," the PMO said in a statement.
It said a criminal leaking of documents, doctoring and extortion have taken place to "mislead the media and public."
"So it is incumbent on responsible members of the media not to accept documents as genuine unless verified by the appropriate authorities," it said.

Meanwhile, 1MDB fund declared that none of its money went to Najib.
"In reference to media reports published earlier today, 1MDB wishes to make clear that the company has never provided any funds to the prime minister.

"To suggest otherwise, as some media outlets have done, is highly irresponsible and a deliberate attempt to undermine the company," it said in a statement.
Prime Minister Razak in 2009 had set up 1MDB, a strategic development fund, promising it would develop new industries and turn the capital, Kuala Lumpur, into a global financial centre.
1MDB is 100 per cent-owned by the Finance Ministry, which also is headed by Razak. Unlike sovereign-wealth funds, it has financed itself through issuing debt, and today owes more than USD 11 billion.