KUALA LUMPUR: Malaysian student activists rallied on Saturday to demand the arrest of Prime Minister Najib Razak, who has been implicated in a US government investigation into massive fraud at the state investment fund he chairs.
More than 1,000 people defied a police ban as they congregated at two locations in Kuala Lumpur, holding up posters and effigies of Najib, his family and associates.
The US Department of Justice said last month that at least $3.5 billion had been stolen from 1Malaysian Development Bhd, which was founded by Najib. It has initiated action to seize $1.3 billion it said was used to buy assets in the US, including luxury homes, art and cars.
It said in court filings that more than $700 million had landed in the accounts of a person identified as "Malaysian Official 1". It did not name the official, but appeared to be referring to Najib.
"Can we send MO1 (Malaysia Official 1) to jail and bring that person to face justice?'' student leader Anis Syafiqah Mohamad Yusof said at the rally.
Police put barricades around the square, forcing protesters to gather around the perimeter. The event ended peacefully after nearly three hours, with student leaders placing effigies of Najib, his wife Rosmah Mansor, stepson Riza Aziz and businessman Low Taek Jho into a mock prison.
Riza co-founded the movie studio Red Granite Pictures, which produced the Leonardo DiCaprio film The Wolf of Wall Street. He and Low, who is close to Najib's family, were named in the US Department of Justice filings.
Najib remains firmly in political control of the country, thanks largely to the apparently unwavering support of ruling party members despite a few voices of dissent. The opposition is too weak to dislodge him. However, the US complaints are by far the biggest threat to Najib's credibility and that could reinvigorate the opposition.
The country's attorney-general has defended Najib, saying he has not been named a defendant in the US complaints. He had already cleared Najib of criminal wrongdoing in January, saying $681 million found in his bank accounts was a donation from the Saudi royal family and not from 1MDB, and in any case most of the money was returned.
Many of the allegations about 1MDB first came to light after Andre Xavier Justo, a Swiss financier, stole information from his former employer, PetroSaudi, which was involved in a business venture with 1MDB.
Justo is currently in jail in Thailand for attempting to blackmail PetroSaudi but is seeking to serve out the remainder of his sentence in Switzerland.