MACC seizes RM85.6mil in assets in highway funds probe

The Star

3 days ago

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts worth an estimated RM85.6mil as part of an ongoing investigation into the alleged misuse of sukuk funds linked to a Klang Valley highway project.
The probe centres on a concessionaire with a "Tan Sri" title suspected of diverting the project's funds for personal use.
MACC Chief Commissioner Tan Sri Azam Baki said seizures include 14 individual bank accounts with RM4.5mill and eight company accounts with RM33mil.
Also confiscated were luxury vehicles (RM7.65mil), designer handbags (RM3mil), jewellery (RM6mil), high-end watches (RM7mil) and properties valued at RM24.5mil.
"We believe hundreds of millions in sukuk funds were channelled to the contractor's company owned by the Tan Sri and later misused for personal interests rather than the intended highway project," Azam said.
The 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 and to fund gambling activities.
Azam added that the money could also have been used to finance local and overseas property purchases and investments, which were concealed through layered transactions designed to obscure their origin.
As of now, investigators have not yet recorded a statement from the Tan Sri as he is in hospital.
"We are reviewing the acquisition trail of these assets and obtaining relevant bank documents, including those tied to the suspect, to support our analysis," he said.
To date, 45 individuals have had their statements recorded, with another 30 to 50 witnesses expected to be called in. Family members of the Tan Sri may also be summoned.
Earlier reports noted that MACC had seized various luxury items, including handbags, jewellery, watches, vehicles, cash, and high-end residences, worth around RM32mil, believed to be linked to the same individual.
During a Thursday operation, officers also discovered a storage room stocked with luxury alcoholic beverages valued at about RM3mil, suspected to be tied to money laundering activities.
All assets were seized under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for further investigation. – Bernama