Former Malaysian PM Ismail Sabri Yaakob charged over failure to declare foreign cash and gold bars

Ismail Sabri's defense counsel Amer Hamzah Arshad said at a press conference that the charge was essentially a failure to comply with a notice to declare certain assets.

Former Malaysian Prime Minister Ismail Sabri Yaakob was charged on Thursday with failure to declare assets, the third former premier prosecuted in recent years over alleged graft-related offenses.

Ismail Sabri, who was Malaysia's prime minister for just over 15 months from 2021 to 2022 during a period of political upheaval, was accused of concealing assets that consisted of local and foreign currencies as well as gold bars and silver.

Ismail Sabri's defense counsel Amer Hamzah Arshad said at a press conference that the charge was essentially a failure to comply with a notice to declare certain assets.

"We will be studying the charge, and as we informed the court, we are raising certain concerns about the propriety and legality of the charge, but we won't go into detail here," he said.

Ismail Sabri pleaded not guilty at a lower court in Kuala Lumpur on Thursday and was released on 300,000 ringgit ($74,534) bail. If convicted, he faces jail of up to five years and a fine of up to 100,000 ringgit ($24,828).

16kg gold bars, millions of dollars in cash seized

The anti-graft agency in March last year said Ismail Sabri had submitted an assets declaration after being ordered to do so as part of its investigation into alleged graft and money laundering, following the seizure of nearly $40 million in assets allegedly linked to him.

Cash amounting to 170 million ringgit ($42.2 million) in various currencies and 16 kg of gold bars were seized following the raids, the agency said at the time.

16kg of gold bars is equivalent to approximately $2.4 million.

A trained lawyer, Ismail Sabri has served in various roles in politics, including lawmaker and cabinet minister under three prime ministers, with portfolios that included rural and regional development, agriculture and domestic trade.