The Malaysian Anti-Corruption Commission (MACC) will investigate allegations that nearly US$700 million was deposited into Prime Minister Najib Abdul Razak's bank accounts.

“We will look into the matter. If there’s any corruption at all, we will investigate,” Rohaizad Yaakob, an MACC spokesperson toldThe Wall Street Journal.

The damning WSJ report marks the first time Najib has been directly connected to official investigation into the 1MDB financial fiasco.

[More to follow]