Malaysia still deep in 1MDB red as Najib heads home

AI Summary

Malaysia expects to remain liable for tens of billions of ringgit linked to the 1MDB scandal despite further overseas asset recoveries. Former prime minister Najib Razak, imprisoned since 2022 for corruption and money laundering tied to SRC International, is preparing to move to house arrest.

Malaysia will still lose tens of billions of ringgit to the 1MDB scandal even after further overseas asset recoveries, its second finance minister said on Wednesday, as disgraced former prime minister Najib Razak prepares to move to house arrest. Najib has been imprisoned since 2022 following his conviction for corruption and money laundering tied to SRC International, a former subsidiary of 1Malaysia Development Berhad (1MDB). The sovereign wealth fund was co-founded by Najib in 2009 during his...