Malaysian Ex-PM Najib Razak Faces Bankruptcy Over Tax Bill

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Malaysian Ex-PM Najib Razak Faces Bankruptcy Over Tax Bill

Najib Razak insisted he had at all times paid his taxes.

Kuala Lumpur, Malaysia:

Malaysia’s scandal-plagued former prime minister Najib Razak is dealing with chapter for allegedly failing to pay greater than $400 million in taxes, which might convey his political profession to an finish.

Najib misplaced energy in 2018 when his get together, which had ruled the Southeast Asian nation for six a long time, was defeated on the polls after he turned embroiled in a monetary scandal. 

The chief and his cronies had been accused of stealing billions of {dollars} from state funding fund 1MDB, and he has since been convicted and sentenced to 12 years in jail within the first of a number of trials he’s dealing with over the fraud. 

Final 12 months, a court docket ordered Najib — who stays free on bail and remains to be an MP — to pay 1.69 billion ringgit ($409 million) in taxes owed between 2011 and 2017. 

Late Tuesday, Najib stated that tax officers issued a discover demanding he settle the invoice, plus further prices, in any other case they are going to launch chapter proceedings.

If he’s declared bankrupt, the ex-premier will lose his seat in parliament and be barred from standing in elections.

The 67-year-old insisted he had at all times paid his taxes, and that the case in opposition to him is politically motivated. 

“I’ll proceed to face up and struggle in opposition to each try to bully and intimidate me by these in energy,” he wrote on Fb, including he had requested his legal professionals to attempt to get the proceedings halted.

The tax workplace declined to remark.

The prospect of chapter comes as completely different factions battle for management of Najib’s get together, the United Malays Nationwide Organisation, of which he stays an influential member. 

Regardless of his involvement within the 1MDB scandal, Najib remains to be a preferred determine, with greater than 4 million Fb followers.

He started an enchantment in opposition to his conviction over the 1MDB scandal final 12 months. He denies any wrongdoing. 

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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