Earlier, Datuk Seri Gopal Sri Ram, the former Federal Court judge appointed as a senior DPP, proposed bail of RM1 million in two sureties of Malaysian citizens and suggested that Riza be ordered to hand over all his passports as a condition of guarantee. Riza Aziz is the third person in his family to face charges in the scandal.
Riza, who is a film producer, was alleged to have received several hundreds of millions of Dollars siphoned from state investment fund 1Malaysia Development Berhad (1MDB) to finance films including The Wolf of Wall Street.
When the scandal first broke a year ago, it led to Najib losing the national election to Mahathir Mohamad.
Riza was also questioned by the same Malaysian authorities in 2018.
Last year, Red Granite paid a $60 million to the USA government to settle a civil lawsuit involving the funds for all three studio films.
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The Wolf of Wall Street followed a stockbroker's downfall through corruption and fraud. Mr Low is on the run and believed to be in China.
The 1MDB corruption scandal was revealed in 2015 by an investigation carried out by The Wall Street Journal and the Sarawak Report that revealed the diversion of RM2.6 billion ($681 million at the time) to Najib's private accounts.
Mr Najib has been charged with more than 40 criminal counts and is now being tried on some of them.
His wife, Rosmah Mansor, also has pleaded not guilty to money laundering and tax evasion related to 1MDB but her trial date has not been set.
Riza was arrested on Thursday.
"Therefore, Riza is of the opinion that it is better to resolve this civil case since the time taken for the case's hearing is long and the legal fees in the U.S. is also very high", the former prime minister wrote in a Facebook post today.