A special task-force will probe the graft allegations that up to USD 700 million were funneled from a government owned fund to Malaysian Prime Minister Najib Razak’s personal bank accounts.

The multi-agency task force comprising officers from the Anti-Corruption Commission, Central Bank and the police will probe the money trail of 1 Malaysia Development Bhd (1MDB), which allegedly ended in the Prime Minister’s personal bank accounts, said Attorney-General Abdul Gani Patail.

Razak, 61, has denied the allegations saying, these were part of a concerted campaign of "political sabotage" to topple a democratically elected Prime Minister.

"No evidence has been offered following all these allegations, which has only been based on leaked documents and unnamed investigators," Razak said in a Facebook post.

Patail said, the task force officers are going through documents taken from the premises of SRC International Sdn Bhd, Gandingan Mentari Sdn Bhd and Ihsan Perdana Sdn Bhd.

The Wall Street Journal had named these three companies in its report on July 2, claiming that USD 700 million was funnelled into what it believed to be Razak’s bank accounts.

"After reviewing and analysing the documents retrieved during the raids, I have advised the task force on the next course of action," Patail said in a statement on Saturday.

The Attorney-General said the investigations would be focused on all aspects raised.

"With the participation of various agencies, I am confident of professional and in-depth investigations. I hope all parties will extend their cooperation to enable the special task force to proceed with the investigation without issuing statements that can confuse the public," he added.

Deputy Prime Minister Muhyiddin Yassin has urged relevant authorities to investigate allegations made against Razak.

"This is a very serious allegation that can jeopardise his credibility and integrity as Prime Minister and leader of the Government," said Yassin.

"The Prime Minister should explain or deny it. If he is confident all the allegations are mere lies, it would be wise for him to take legal action against those who made them," he added.