KUALA LUMPUR - Nazir Razak, the brother of former Malaysian prime minister Najib Razak, said on Tuesday (Oct 8) that he did not personally benefit from money he received from state fund 1Malaysia Development Berhad (1MDB).
Stressing that "not a single sen was retained or used" by him, Datuk Seri Nazir said the idea that funds that flowed through his bank account may have originated from 1MDB has been "gut-wrenching" for him.
The issue of 1MDB money in Mr Nazir's account had come up in 2016 and has now resurfaced after Malaysia's Anti-Corruption Commission (MACC) said on Monday that RM420 million (S$138 million) was received by a total of 80 individuals and entities from the troubled state firm.
The individuals include Mr Nazir, the former chairman of Malaysia's second-largest bank, CIMB Group, and Tan Sri Shahrir Abdul Samad, the former chairman of state palm oil agency Felda and also a minister in Najib's Cabinet.
Mr Nazir had received about RM25.7 million in cheques from 1MDB, MACC head Latheefa Koya said, adding that the anti-graft agency has issued compound notices against all the people and entities to pay up the fines.
Mr Nazir, a vocal critic of the 1MDB debacle in the past, said on Tuesday that the money was transferred to his bank account in 2013 and the funds were subsequently disbursed in cash and in full to Najib's representatives for what he understood were election campaign purposes.
"I acted in good faith in order to oblige my brother's request for assistance in the GE13 (Malaysia's 13th general election) campaign, and back then, I was informed that the funds originated from legitimate political fund raising and had no reason to think otherwise," he said in a media statement.
He said that when the alleged links between 1MDB and Najib's fund transfer surfaced in the media in April 2016, he took voluntary leave from his positions at CIMB in order for the boards of CIMB Group and CIMB Bank to conduct a full review of what transpired. He was subsequently cleared of any wrongdoing.
"I intend to engage with the MACC to resolve this matter. I fully respect the work that they are doing to recover 1MDB funds, and will assist as best as I can," added Mr Nazir.
After winning last year's election, Prime Minister Mahathir Mohamad's administration reopened 1MDB probes, charged dozens of high-ranked officials, and filed civil forfeiture actions in a bid to recover money linked to 1MDB.
Malaysia has also filed lawsuits against Goldman Sachs over its role as underwriter and arranger of three bond sales that raised US$6.5 billion (S$8.9 billion) for 1MDB.
Since 2016, the US Department of Justice has filed forfeiture lawsuits on about US$1.7 billion in assets allegedly bought with stolen 1MDB funds, including a private jet, luxury real estate and jewellery.
