Investigators Believe Money Flowed to Malaysian Leader’s Accounts
Prime Minister Najib’s bank accounts are scrutinized in probe of investment fund 1MDB
Tom Wright and Simon Clark, WSJ
KUALA LUMPUR, Malaysia—Malaysian investigators scrutinizing a controversial government investment fund have traced nearly $700 million of deposits into what investigators believe are the personal bank accounts of Malaysia’s prime minister, Najib Razak, according to documents from a government probe.
The investigation documents mark the first time Mr. Najib has been directly connected to the probes into state investment fund 1Malaysia Development Bhd., or 1MDB.
Mr. Najib, who founded 1MDB and heads its board of advisors, has been under growing political pressure over the fund, which amassed $11 billion in debt it is struggling to repay.
The government probe documents what investigators believe to be the movement of cash among government agencies, banks and companies linked to 1MDB before it ended up in Mr. Najib’s personal accounts. Documents reviewed by The Wall Street Journal include bank transfer forms and flow charts put together by government investigators that reflect their understanding of the path of the cash.
