Former Malaysian PM pleads not guilty to charges in 1MDB graft probe

KUALA LUMPUR (Reuters) - Malaysia’s former Prime Minister Najib Razak pleaded not guilty to criminal charges on Wednesday related to a probe into allegations of corruption at state fund 1MDB, less than two months after he was ousted in a stunning election.

Najib, 64, nodded as he was charged with abuse of power and three counts of criminal breach of trust as part of an investigation into a transaction involving SRC International, a former unit of 1Malaysia Development Berhad (1MDB).

Each of the four charges carries a prison sentence of up to 20 years. The abuse of power charge carries a fine of not less than five times the “value of gratification”.

Najib was granted bail set at 1 million ringgit ($247,000).

“As a public official, which is prime minister and minister of finance, used your position for self gratification (for a) total of 42 million ringgit,” Attorney General Tommy Thomas said referring to the abuse of power charge.