Malaysia's former Prime Minister Najib Razak has gone on trial for his role in a financial scandal that has sent shockwaves around the world.

He faces seven charges in the first of several criminal cases accusing him of pocketing $681m (£522m) from the sovereign wealth fund 1MDB.

Mr Najib pleaded not guilty to all the charges on Wednesday.
The 1MDB fund was designed to boost Malaysia's economy through strategic investments.

But instead it allegedly funded lavish lifestyles, a Hollywood film and a super-yacht.

Mr Najib's lawyers made a last-minute bid to delay proceedings but the judge ruled against them.

In the prosecution's opening statement, Malaysia's Attorney-General Tommy Thomas said the "near absolute power" Mr Najib had wielded carried with it "enormous responsibility".

"The accused is not above the law," he added.

While the former prime minister faces several criminal cases, Wednesday's trial is the first major trial in the scandal.

Proceedings were originally set to begin on 12 February, but were delayed for related appeals to be heard.

Malaysia's government has also filed criminal charges against Wall Street firm Goldman Sachs, accusing the investment bank of defrauding investors by raising money for 1MDB.

The bank has denied all wrongdoing and said it would "vigorously defend the charges".

Source: BBC

BDST: 1655 HRS, APR 3, 2019
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