Former Malaysian premier released on bail

Najib Razak was arrested over state fund 1Malaysia Development Berhad corruption probe

Former Malaysian premier released on bail

Former Malaysian Prime Minister Najib Razak, who was arrested under an anti-corruption probe, was released on bail on Friday, according to local media reports. 

According to Malaysian Anti-Corruption Commission (MACC), Razak was arrested over a corruption scandal concerning the Malaysian state fund 1Malaysia Development Berhad (1MDB). 

Razak paid 1 million Malaysian ringgits (around $242,000), part of the 3.5 million ringgits (around $846,000) of bail imposed on him by the Sessions Court in Kuala Lumpur. 

In July, the former prime minister had appeared before court for the first time, where he pleaded not guilty and was released on bail.

1MDB, spearheaded by Razak, has been the subject of a global money-laundering probe. 

The scandal has triggered probes and investigations in multiple locations around the globe, including the U.S. and Switzerland. 

Singapore's investigations, which began in 2015, have resulted in the seizure of bank accounts. The Monetary Authority of Singapore ordered Falcon Private Bank to cease operations in Singapore last October.