Malaysian lawyers believe that Prime Minister Najib Razak has not much choice except to file a lawsuit against The Wall Street Journal (WSJ) which reported on Thursday that Singapore froze two bank accounts linked to the investigation on Najib. The influential and credible business daily stood by its report that $700 million was found in the PM's personal account.
Ironically, the report came out as Najib celebrates his 52nd birthday. Lawyer Bastian Pius Vendargon said the PM's next move is to name the WSJ reporter and publisher, Dow Jones & Company, to initiate a civil lawsuit because the articles - there were two previous reports on July 2 and 6 - damaged the politician's reputation, reports Todayonline.
"I don't think it is necessary for Mr. Najib's lawyers to send a notice of demand to ask the publisher to retract the report and ask for an apology since they are firm on their stand," Vendargon said.
According to The Wall Street Journal, Singaporean police said on Wednesday that they froze two bank accounts of 1Malaysia Development Bhd. (1MDB), a state-investment fund linked to Najib. The PM is the founder of 1MDB and head of its board of advisers.
However, the Singapore Police Force did not provide more details of the bank accounts which they monitored movements and said eventually ended allegedly in the PM's personal account.
Because of criticisms that 1MDB lacks transparency, is mired in debt and made poor investment decisions, the fund is facing four investigations in Malaysia. However, Najib was not accused of wrongdoing, and the July 2 WSJ report is the first time the PM was directly linked to the fund.
After that report came out, a Malaysia government spokesman said it was part of a smear campaign against Najib.
Hafarizam Wan & Aisha, the PM's lawyer, wrote on July 8 a letter to WSJ to seek clarification if the two articles implied Najib misappropriated 1MDB's money. The WSJ replied and twice said it stands by the two articles.