Billions of dollars missing from state coffers. Hundreds of millions worth of luxury goods seized from a former prime minister's home. A corruption and money laundering probe spanning six countries.

Key points: Najib Razak is charged with money laundering, abuse of power and criminal breach of trust

Najib Razak is charged with money laundering, abuse of power and criminal breach of trust His wife, Rosmah Mansor, is facing her own raft of charges including money laundering

His wife, Rosmah Mansor, is facing her own raft of charges including money laundering Mr Najib was originally set to face trial on February 12 but his lawyers were able to push it back

It sounds like the plot of a far-fetched movie. And while several celebrities and a Hollywood blockbuster have become entangled in the 1Malaysia Development Berhad (1MDB) scandal, Malaysia's ongoing political drama is very real.

Malaysia's former prime minister, Najib Razak, is due to stand trial today for his alleged role in the multi-billion-dollar looting of the state investment fund 1MDB.

But why have prosecutors hit the erstwhile leader with so many charges? How does The Wolf of Wall Street fit in? And what does Mr Najib himself have to say about it all?

Here, we break down the charges, the trial and the background of a case that has gripped Malaysia — and much of the world.

What is the 1MDB scandal exactly?

Sorry, this video has expired Malaysian police raid the home of former prime minister Najib Razak (Photo: AP)

The 1MDB fund was founded by Mr Najib in 2009 as a vehicle to create long-term economic development in Malaysia.

Less than a decade on, it was being investigated in at least six countries for alleged money laundering and graft.

Mahathir Mohamad (pictured) says former leader Najib Razak was "totally responsible" for the 1MDB fund. ( Reuters: Lai Seng Sin )

Civil lawsuits filed by the US Department of Justice allege that nearly $US4.5 billion ($6.3 billion) was misappropriated from 1MDB during its lifespan.

The scandal helped to bring down Mr Najib's government, with Malaysian voters ousting him amid a tide of public disgust in May last year — the first time his party had lost power since the country gained independence from Britain in 1957.

Malaysia's now-Prime Minister Mahathir Mohamad, who led the country for more than two decades until he stood down in 2003, emerged from retirement at age 92 to challenge his onetime protege.

Since the shock election result, Malaysian authorities have pursued the case against Mr Najib and his associates unrelentingly, investigating and laying charges against several people allegedly responsible for using 1MDB as a slush fund.

How is Mr Najib allegedly involved?

Malaysian police confiscated a few hundred designer handbags and dozens of suitcases containing cash and jewellery. ( AP )

Mr Najib, the son of Malaysia's second prime minister, is a career politician who was elected to his father's parliamentary seat at the tender age of 23.

He established 1MDB soon after taking up Malaysia's highest office in 2009, but by 2015 the fund was said to have incurred massive debts, and media reports had begun probing allegations of corruption.

Malaysian prosecutors allege that Mr Najib used his position as prime minister to obtain 2.3 billion ringgit ($793 million) for the fund between 2011 and 2014, and transferred at least $14 million of public money into his personal bank accounts.

The US Department of Justice alleges that $936 million, based on foreign exchange rates, of 1MDB funds went into Mr Najib's bank account.

The 65-year-old was banned from leaving the country after losing the election, before he was arrested in July last year.

In the days before his arrest authorities seized cash, jewellery, designer handbags and watches totalling more than $370 million from his home — a haul that required 22 officials, three days and six counting machines.

What does Mr Najib have to say about it?

Malaysia has also filed criminal charges against Goldman Sachs. ( Reuters: Brendan McDermid )

Mr Najib has consistently denied any wrongdoing, pleading not guilty to all charges and painting himself as the victim of a vindictive government.

He has claimed that the money in his accounts was donated by Saudi Arabia, and that he returned most of it.

In the lead-up to the trial he has been trying to improve his image, refashioning himself as a voice of working class — especially those in the ethnic Malay majority — by visiting local markets, eating at street food stalls and posing for selfies with locals.

Last month, he rammed home his defiance in the face of legal woes by recording a Malay-language version of the 1970s hit Kiss and Say Goodbye, complete with a choir made up of young singers.

"On May 9, 2018, I was ousted. All this time, I have been fighting with my life for the people I love. But what can I do?" an earnest Mr Najib says of his "saddest day" in the introduction to the song.

The video, which also criticised Mr Mahathir's coalition for failing to live up to election promises, went viral in Malaysia.

Mr Najib has also tried hard to delay the trial — it was originally supposed to begin on February 12 but his lawyers were able to push it back with appeals over procedural matters.

Who else is caught up in it?

Mr Najib's wife Rosmah Mansor saw many of her Hermès Birkin bags seized by authorities. ( AP: Vincent Thian )

Mr Razak's wife, Rosmah Mansor, long criticised by Malaysians for her perceived excesses, is also facing a raft of charges, including money laundering.

Malaysia's former "first lady" saw many of her Hermès Birkin bags, which can cost upwards of $250,000 each, seized by authorities when they raided the home she shared with Mr Razak.

She is due to stand trial separately from her husband.

Several top 1MDB executives have been charged over the complex money-laundering scheme they are accused of masterminding, including the notorious Malaysian financier Low Taek Jho, also known as Jho Low.

Jho Law is seen to the left of Leonardo Di Caprio at the premiere of Wolf of Wall Street. ( Reuters: Lucas Jackson )

While the businessman is still on the run, a number of high-profile figures with connections to him have been caught up in the scandal.

Last year, Australian model Miranda Kerr returned millions of dollars worth of jewellery she received as a gift from Jho Low, while actor Leonardo DiCaprio gave back an Oscar once owned by Marlon Brando.

The production company behind The Wolf of Wall Street has also agreed to pay $76 million to the US Government to settle claims it benefited from the corruption scandal.

US authorities said Red Granite Pictures, which was co-founded by Mr Najib's stepson, Riza Aziz, received proceeds that were stolen from 1MDB, though the firm denied the allegations.

Malaysia has also filed criminal charges against Goldman Sachs, and is seeking nearly $11 billion in reparations from the US bank over its dealing with 1MDB.



How is his trial expected to play out?

Mr Najib is not expected to take the stand in his own defence in the trial. ( Reuters: Lai Seng Sin )

Authorities have charged Mr Najib with multiple counts of money laundering, abuse of power and criminal breach of trust.

In total, he faces 42 charges and, if found guilty on all counts, could be sentenced to more than 100 years in prison.

Seven of those charges will be the subject of today's trial, and relate to the transfers totalling $14 million into Mr Najib's personal bank account.

Prosecutors have handed nearly 3,000 pages of documents to the defence ahead of the trial, according to his legal team.

Mr Najib is not expected to take the stand in his own defence in the trial, the first of several that are due to be held.