The charges were served in their absence at a Magistrate Court in Kuala Lumpur/Bloombergby Bloomberg
Fugitive financier Low Taek Jho faces new charges in Malaysia along with PetroSaudi International Directors Tarek Obaid and Patrick Mahony over their alleged roles in the 1Malaysia Development Bhd. (1MDB) scandal.
According to the Malaysian Anti-Corruption Commission, the three are accused of engaging in criminal conspiracy with Malaysia’s former Prime Minister Najib Razak, while Mahony and Obaid face additional money laundering charges for allegedly receiving $300 million from 1MDB through unlawful activity. The charges were served in their absence at a Magistrate Court in Kuala Lumpur.
These are the first accusations against Mahony and Obaid in Malaysia, while Jho Low, has already denied wrongdoing against previous charges filed against him in the Southeast Asian country.
Najib is undergoing trial for dozens of charges linked to the fund. The scandal is at the centre of global probes from Switzerland to Singapore, with US prosecutors estimating about $4.5 billion were syphoned from 1MDB.
The court has issued arrest warrants against the three people, who are not in Malaysia, and sought help from Interpol to find them.
If found guilty of criminal conspiracy, Jho Low, Obaid and Mahony could face up to 20 years in jail and a fine of no less than five times the value of the gratification. A guilty conviction on the money-laundering charges could mean a maximum fine of MYR 5 million ($1.2 million) or up to five years in jail.