KUALA LUMPUR, July 4 (Xinhua) -- Former Malaysian Prime Minster Najib Razak was charged on Wednesday with criminal breach of trust and abuse of power for graft related to the state investment fund 1MDB.

The public prosecutors charged Najib with three counts of criminal breach of trust by public servant or agent, as Prime Minister, Finance Minister and company advisor in connection of 42 million ringgit (10.5 million U.S. dollars) from SRC International, a former unit of state fund 1MDB, transferred into Najib's personal account.

Najib was also accused of using his position for graft under Malaysia's anti-corruption law.

Each offense carries a maximum prison term of 20 years and fine.

Najib was arrested by the country's anti-corruption body on Tuesday. He has denied any wrongdoing. His spokesman said Tuesday that the charges and other ongoing investigation against him were "political motivated" and the former Prime Minister will "clear his name in court."