He was also charged with three counts of criminal breach of trust (CBT) in his capacity as Prime Minister, Finance Minister and Advisor Emeritus of SRC International, in which he was entrusted with the RM4bil.
Former Malaysian Prime Minister Najib Razak has arrived at a Kuala Lumpur court house to face charges stemming from a corruption probe, two months after his shock election defeat.
"Today's case is the first IP that came to my table when I clocked in three weeks ago", he told reporters on Wednesday (Jul 4) at the Kuala Lumpur Courts Complex. Each charge carries a maximum prison sentence of 20 years while the graft charge entails an additional fine of at least five times the value of gratification.
He was arrested Tuesday by anti-graft officials over a suspicious transfer of $10.4 million (U.S.) into his bank accounts from SRC International, a former unit of the 1MDB state investment fund that US investigators say was looted of billions by associates of Najib.
Accusations of massive corruption at the 1MDB fund, which was created by Mr Najib, were a major factor behind the electoral quake in May that toppled his long-ruling coalition and ushered in a reformist alliance headed by his former mentor Mahathir Mohamad, 92.
That is only a fraction of the total amount allegedly misappropriated from 1MDB.
Since his loss at the polls, Najib has been barred from leaving the country and had millions of dollars of items seized from properties linked to his family.
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After another long session of questioning, Datin Seri Rosmah Mansor's son Riza Aziz has finally left the Malaysian Anti-Corruption Commission (MACC) headquarters here.
He described the upcoming trial as being the "best opportunity" for him to clear his name.
In March, Red Granite Pictures, which also produced big-budget Hollywood films such as "Dumb and Dumber" and "Big Daddy" agreed to pay US$60 million to the US Department of Justice (DOJ) to settle a lawsuit alleging its use of illicit funds to make the movies.
"Let investigations be carried out".
He has told the public not to believe the reports saying: "I have not had a chance to defend myself".
Wednesday's court hearing was the latest step in a quick-moving investigation into alleged wrongdoing by Najib, his family and many of his close political and business allies.
SRC is the initial focus of Malaysian investigators as all the suspicious transactions involving the firm were made through Malaysian entities, unlike other 1MDB related transactions that went through foreign banks and companies.