Ex-Melaka official remanded over RM50m investment abuse
MELAKA: A former local authority finance director in Melaka has been remanded for seven days over alleged abuse of power involving RM50 million in public funds for share investments.
The remand order against the 57-year-old man was issued by Magistrate N. Sivashangari and is effective from today until June 23.
Earlier, the suspect, dressed in an orange lock-up uniform, arrived at the Ayer Keroh Court Complex at around 9 am, escorted by several Malaysian Anti-Corruption Commission (MACC) officers.
Yesterday, media reports stated that the suspect was arrested at around 1 pm while giving his statement at the MACC office in Melaka.
According to sources, the suspect allegedly committed the offence between 2020 and 2023 by appointing his wife, a bank employee, as the investment agent for the RM50 million in share investments.
Preliminary investigations revealed that the suspect is believed to have used public and trust funds without the approval of the financial controlling officer.
State MACC director Adi Supian Shafie, when contacted, confirmed the arrest and said the case is being investigated under Section 23 of the MACC Act 2009.
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