Najib to sue Wall Steet Journal on Tuesday, says report

KUALA LUMPUR — Prime Minister Najib Razak will file a suit against US paper the Wall Street Journal (WSJ) on Tuesday (July 7) over a report that alleged an outflow of US$700 million (S$942 million) from state-owned 1Malaysia Development Berhad (1MDB) to his personal bank accounts.

The Star Online reported today unnamed sources close to Mr Najib as saying that he will make the announcement at a press conference in Semenyih later today.

“He would file the suit through his lawyers in Kuala Lumpur,” the sources were quoted saying.

WSJ reported Friday that 1MDB investigators have discovered five separate deposits from two sources that were made into Mr Najib’s accounts, citing government documents that it claimed to have viewed.

The largest two transactions, it said, were for US$621 million and US$61 million allegedly made in March 2013, shortly before the tumultuous Election 2013 in May.

A further transfer of RM42 million, purportedly made into Mr Najib’s account at the end of 2014 and the beginning of 2015, is believed to have come from SRC International Sdn Bhd, a former subsidiary of 1MDB that was in 2012 parked under the Finance Ministry that Mr Najib heads, WSJ said.

Malaysian authorities are investigating the alleged money trail that involves several companies that purportedly channelled the funds to Mr Najib’s bank accounts, including SRC International, Ihsan Perdana and Gandingan Mentari. MALAY MAIL ONLINE