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Last week, the new government and Goldman Sachs reached a $3.9 billion settlement over the company’s role in the scandal. The previous government had sought more than $2.7 billion in fines and had charged more than a dozen executives with fraud. Under the settlement, criminal charges against the bank and the executives were dismissed.

Mahathir Mohamad, 95, who was prime minister from 1981 to 2003, came out of retirement in May 2018 to defeat Mr. Najib and UMNO, the party that Mr. Mahathir once led.

After the election, the authorities raided properties owned by Mr. Najib and his wife, Rosmah Mansour and seized more than $270 million in cash, jewelry, luxury handbags, tiaras and other valuables. Ms. Rosmah also faces corruption charges.

Mr. Mahathir pledged to pursue justice against Mr. Najib and his cronies but his coalition suffered from internal divisions and Mr. Mahathir stepped down in February.

In the months since, and against the backdrop of the coronavirus pandemic, Mr. Najib’s supporters have returned to power in what opponents have called a “coup” and a “backdoor government.”

Muhyiddin Yassin, who formed a coalition with UMNO, was appointed prime minister without an election and has since refused the opposition’s demands for a vote of confidence in Parliament.

Mr. Najib, whose father and uncle were both prime ministers, is part of Mr. Muhyiddin’s inner circle but does not hold a leadership post.