Malaysia's High Court on Wednesday ordered imprisoned former Prime Minister Najib Razak to enter a defense in his second corruption trial over the multibillion-dollar looting of the 1MDB state investment fund.
Najib set up the 1Malaysia Development Berhad state fund shortly after taking power in 2009 to promote economic development, but the fund amassed billions in debt. Investigators allege more than $4.5 billion was stolen from the fund and laundered by his associates to finance Hollywood films and extravagant purchases.
