Former Malaysian Prime Minister Najib Razak has been formally charged in connection with a multi-billion dollar scandal involving sovereign wealth fund 1MDB.
Najib was charged Wednesday in a lower court with three counts of criminal breach of trust and one count of corruption, a day after his arrest at his home by agents with the country's anti-corruption commission. The 64-year-old ex-prime minister is accused of siphoning $10.4 billion from SRC International, a former unit of the troubled 1MDB.
Each of the charges carry a maximum prison sentence of 20 years. Najib pleaded not guilty to the charges during Wednesday's hearing.
In a recorded message posted on social media hours after his arrest, Najib said he was not perfect, but said the charges against him and his family were not all true. His spokesman called the charges "politically motivated."