As well as being the brother of Malaysia’s prime minister, Nazir is a senior banker, and sits as chairman of CIMB, the country’s second largest bank, so has a key role in Malaysia’s financial sector.
Prime minister Najib has admitted to receiving a $681 million dollar “personal contribution” into his personal bank account, believed to be from the Saudi royal family.
Last month he was cleared of any wrongdoing by Malaysia’s attorney general, but a major anti-corruption body in the country has said they will challenge the ruling.
In the Instagram post, Nazir also argues for a National Consultative Council to deal with the scandal. As the Financial Times reports, the last time such a council was called, in 1969, Malaysia’s first post-independence prime minister, Tunku Abdul Rahman, was forced to resign, and a new government was formed.
On Tuesday morning, Business Insider reported that officials from Singapore have seized “a large number” of bank accounts as part of a probe into money laundering connected to 1MDB. 1MDB has also been subject to investigations in the USA and Hong Kong.
Both Najib and 1MDB have both consistently denied any wrongdoing.
Goldman’s dealings in Malaysia have been scrutinised in the past after the bank was accused of receiving excessive commissions on bond deals carried out for 1MDB, although no wrongdoing has ever been formally suggested.