'Near absolute power': Former Malaysian PM pleads not guilty as corruption trial begins

Genting will pay up by the end of April, making it the"highest recovery to date" for the government from the scandal, he said in a statement.

United States investigators said the $250 million yacht was bought with funds diverted from the 1MDB by fugitive Malaysian financier Low Taek Jho, better known as Jho Low, believed to be a key figure in the theft and international laundering of $4.5 billion from 1MDB. The yacht was seized by Indonesian authorities off Bali island last year, in cooperation with the FBI, and subsequently handed back to Malaysia.Malaysians voted Mr Najib out of power in May 2018 as disgust grew over corruption and rising living costs.to root out corruption.

1MDB, founded by Mr Najib in 2009, is the subject of corruption and money laundering investigations in at least six countries.Since losing the election, Mr Najib has been slapped with 42 criminal charges, most linked to 1MDB and other state entities.

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