RM20mil in sukuk funds for highway project possibly used for gambling
MACC chief Azam Baki said investigators are still waiting to question the corporate figure as he is being treated for an undisclosed illness at a private hospital.
PETALING JAYA : About RM20 million in sukuk funds linked to a Klang Valley highway project is believed to have been misappropriated and used for gambling activities, says the Malaysian Anti-Corruption Commission.
MACC chief commissioner Azam Baki said investigations into a corporate figure with a 'Tan Sri' title found that several investments made by the concessionaire involved 'illegal activities'.
Azam said investigators are tracing other assets, including some located overseas, which they believe were acquired using misappropriated sukuk funds.
'For now, 45 witnesses have given their statements. We are still waiting to record the Tan Sri's statement. We've been informed that he is receiving treatment (for an undisclosed illness) at a private hospital,' he said, according to Berita Harian.
The sukuk funds were allegedly transferred to multiple entities, including proxy companies and the personal account of the Tan Sri's wife, and used to acquire assets such as real estate, luxury vehicles and goods, as well as to fund gambling activities.
MACC has frozen 14 individual bank accounts totalling RM4.5 million, and eight company accounts amounting to RM33 million.
Also confiscated were luxury vehicles (costing RM7.65 million), designer handbags (worth RM3 million), jewellery (valued at RM6 million), high-end watches (estimated to cost RM7 million) and properties valued at RM24.5 million.
MACC had also discovered a storage facility with up to 300 bottles of premium alcoholic drinks after raiding one luxury condominium unit. The facility was said to have been specially built at the bottom floor of the condo unit.
It also found several horses worth hundreds of thousands of ringgit which were allegedly bought using the misappropriated sukuk funds.
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