Najib issued a bankruptcy notice over RM1.7 billion taxes

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NAJIB BANCRUPTCY

KUALA LUMPUR, April 6 — Former Prime Minister Datuk Seri Najib Razak has been served with bankruptcy notice by the Inland Revenue Board (IRB).

According to Malaysiakini, he was issued the bankruptcy notice over RM1.7 billion taxes that IRB is seeking from Najib.

“The case has been set for case management at the Kuala Lumpur court this May 5,” said the source.

Najib Razak yesterday appealed to the court to drop his conviction on corruption charges linked to 1MDB state investment fund looting.

The appeal came eight months after a high court found Najib guilty of abuse of power, criminal breach of trust and money laundering for illegally receiving about $10m from a former 1MBD unit called the SRC International.

The United States alleged that more than $4.5bn was stolen from the state fund (1MDB).

Najib is being accused of having laundered the money with his associates.

According to prosecutors the former prime minister received more than $1bn of the 1MDB funds. He is facing a total of 42 criminal charges over the scandal.

However, Najib has denied all wrongdoing and his sentence was stayed pending.

 

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Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

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