![[UPDATED] Sapura shares probe: Tan Sri also investigated for CBT, misappropriation of funds](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fmamamacctans2_NSTfield_image_socialmedia.var_1746696778.jpg&w=3840&q=100)
[UPDATED] Sapura shares probe: Tan Sri also investigated for CBT, misappropriation of funds
PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into a prominent corporate figure with the title of "Tan Sri" for criminal breach of trust and misappropriation of funds involving Sapura Energy Bhd.
A source said the investigation is focused on several investments made after the merger of SapuraKencana Petroleum Bhd and SapuraCrest Petroleum Bhd, which later became Sapura Energy.
Searches were carried out at several locations, including Sapura@Mines, Menara Permata Sapura, home to Sapura Holdings Sdn Bhd, and the individual's residences in Selangor and Kuala Lumpur.
The source said the probe focuses on suspected offences under Section 23 of the MACC Act 2009, involving abuse of power related to remuneration, branding fees, and private placements between 2012 and 2021.
The Tan Sri was summoned to the MACC headquarters for questioning on May 5 and 6.
"No arrests have been made as of today," the source said.
He said a total of 83 bank accounts belonging to five individuals and 15 companies, involving approximately RM158.26 million, have been frozen.
He said governance- and compliance-related investigations will also be carried out as part of the ongoing probe.
The New Straits Times has reached out to Sapura Holdings for comment.
On March 14, the MACC opened two investigation papers following reports of alleged money laundering and misappropriation linked to Sapura Energy when the company was known as SapuraKencana.
On March 20, graft busters visited Sapura Energy's office at Menara PNB in relation to the two investigations.
The company said it was fully cooperating with the agency and would provide the necessary information.
Prior to the investigation, Sapura Energy had consistently been one of the most active stocks on the exchange, following a RM1.11 billion investment from the Minister of Finance Incorporated and creditors' approval for debt restructuring.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Over RM4mil in 1MDB-linked funds in Swiss bank account recovered by MACC
PETALING JAYA: Over RM4mil traced to a Swiss bank account and linked to the embezzlement of 1Malaysia Development Berhad (1MDB) funds was successfully recovered recently by the Malaysian Anti-Corruption Commission (MACC). The commission said in a statement on Friday (June 13) that the sum of USD954,299.58 found in a BSI bank account was returned to the Malaysian government. The MACC said the forfeiture was granted by High Court judge Muniandy Kannyappan on learning from the prosecution that no objections or claims were made by any party in relation to the funds during proceedings at the Kuala Lumpur High Court on Friday. The commission said judge Muniandy allowed the funds, which were in a bank account registered in the name of Derivale Limited and named one Azlin bin Alias as the beneficiary, to be forfeited to the Malaysian government through the MACC. The forfeiture was made under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001). The case was also the MACC's first success in recovering overseas assets without resorting to the process of prosecution. Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Malay Mail
2 hours ago
- Malay Mail
MACC seizes another RM16m in luxury items from ‘Tan Sri' in sukuk fund probe
KUALA LUMPUR, June 13 — The Malaysian Anti-Corruption Commission (MACC) has seized another RM16 million worth of luxury items linked to the misuse of sukuk funds for the construction of a highway in Klang Valley believed to be owned by a concession holder with the title of Tan Sri yesterday. The MACC said the seizure at the individual's residence in Bandar Tasik Selatan, Cheras included 84 luxury bags worth about RM3 million, 11 branded watches (about RM1 million), gold bars, coins and statues (about RM3 million), diamonds and jewellery (about RM4 million). 'A luxury casino equipment set estimated to be worth RM150,000 was also seized,' the commission said in a statement, adding that a secret vault that stored weapons and ammunition was discovered but the weapons were not seized as they were registered under the security company the individual owned. An Anti-Corruption Tactical Squad (ACTS) conducted the search of the individual's residence as he was suspected to be keeping weapons in the vault. 'The MACC received information that there was a vault storing valuables, including weapons, linked to the case in his residence. 'The presence of the ACTS team was to ensure safety and to escort officers and seized items back to the MACC headquarters in Putrajaya,' the commission added. Meanwhile, MACC Chief Commissioner Tan Sri Azam Baki confirmed the search and seizure and did not deny the possibility that there would be other seizures linked to the case. He said that the process of taking the individual's statement had to be postponed to a later date due to health factors. The MACC had previously seized a total of RM143 million worth of valuables linked to the case. — Bernama
Barnama
2 hours ago
- Barnama
MACC Secures Forfeiture Of RM4.05 Mln In Swiss Account Tied To 1MDB
KUALA LUMPUR, June 13 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) has obtained a forfeiture order against USD954,299.58 (approximately RM4.05 million) held in a BSI Bank account in Switzerland, linked to the misappropriation of 1Malaysia Development Berhad (1MDB) funds. In a statement today, the MACC said this marks the commission's first successful recovery of overseas assets without having to pursue prosecution. The High Court's approval was granted by Justice K Muniandy after the deputy public prosecutor informed the court that there were no objections or claims raised by any party during proceedings before the High Court (Criminal Division 2) in Kuala Lumpur earlier today.
