Kuala Lumpur, Malaysia:
Malaysia’s scandal-plagued former prime minister Najib Razak is facing bankruptcy for allegedly failing to spend more than $400 million in taxes, which could bring his political profession to an finish.
Najib lost energy in 2018 when his party, which had governed the Southeast Asian nation for six decades, was defeated at the polls following he became embroiled in a economic scandal.
The leader and his cronies have been accused of stealing billions of dollars from state investment fund 1MDB, and he has given that been convicted and sentenced to 12 years in jail in the very first of quite a few trials he is facing more than the fraud.
Last year, a court ordered Najib — who remains absolutely free on bail and is nevertheless an MP — to spend 1.69 billion ringgit ($409 million) in taxes owed involving 2011 and 2017.
Late Tuesday, Najib mentioned that tax officials issued a notice demanding he settle the bill, plus further charges, otherwise they will launch bankruptcy proceedings.
If he is declared bankrupt, the ex-premier will shed his seat in parliament and be barred from standing in elections.
The 67-year-old insisted he had usually paid his taxes, and that the case against him is politically motivated.
“I will continue to stand up and fight against every attempt to bully and intimidate me by those in power,” he wrote on Facebook, adding he had asked his lawyers to attempt to get the proceedings halted.
The tax workplace declined to comment.
The prospect of bankruptcy comes as diverse factions battle for handle of Najib’s party, the United Malays National Organisation, of which he remains an influential member.
Despite his involvement in the 1MDB scandal, Najib is nevertheless a common figure, with more than 4 million Facebook followers.
He started an appeal against his conviction more than the 1MDB scandal final year. He denies any wrongdoing.
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