Former Malaysian Prime Minister Najib Razak pleaded not guilty after he was formally charged Wednesday with corruption linked to a multi-billion dollar financial scandal less than two months after he was ousted in a stunning election. Najib, 64, pleaded not guilty to three counts of criminal breach of trust and a separate charge that he abused his position to pocket 42 million ringgit ($10.4 million). Each charge could see him jailed for up to 20 years. The unprecedented court appearance came the day after Najib was arrested at his luxury home by officers probing how billions of dollars of state funds disappeared on his watch. Najib is expected to be freed on bail after the court decided on a one million ringgit bond. The former premier was also ordered to surrender his two Malaysian passports. The court set a tentative date for the trial, beginning in February 2019. Allegations of massive corruption were a major factor behind the electoral earthquake in May that toppled Najibs long-ruling coalition and ushered in a reformist alliance headed by his 92-year-old former mentor Mahathir Mohamad. According to an investigation by the Wall Street Journal, $10.6 million originating from SRC International Sdn Bhd, an energy company that was originally a subsidiary of 1MDB, was transferred to Najibs personal bank accounts, a fraction of hundreds of millions of dollars from 1MDB that was allegedly funnelled to him. Since the election loss Najib has been banned from leaving the country. A press statement issued by Najibs camp late Tuesday said the impending charges and other investigations "are politically motivated" and motivated by "vengeance" under Mahathir. It vowed that Najib "will contest these charges and clear his name in court".