Ideal Property denies claim chairman arrested over scam case
GEORGE TOWN: Property developer Ideal Property Group has dismissed allegations on social media that its Group Executive Chairman was arrested in connection with the investigation into a scam linked to MBI Group.
In a statement, the group said it has lodged reports to authorities to pursue legal action.
"Ideal Property Group strongly refutes the false and malicious allegations and categorically denies these baseless and defamatory statements.
"Ideal Property Group operates with strict adherence to the law, ethical business principles and distinguishes itself through technical excellence, successful project delivery and rigorous regulatory compliance.
"Our organisation is committed to maintaining the highest levels of professional integrity and operational transparency.
"To address this false and malicious disinformation campaign, Ideal Property Group has lodged a report with the Malaysian Communications and Multimedia Commission, police and will take immediate legal action to protect its reputation," the statement said on Wednesday (April 30).
The group added it continues to show solid operational performance.
"Our organisation maintains its unwavering focus on executing current projects and fulfilling all obligations to its various stakeholders with excellence," it said.
On April 22, police arrested five more people, including two with the titles Tan Sri and Datuk Seri, for their suspected roles as proxies and business partners in a Ponzi-style investment scam linked to MBI.
Officers also seized three durian orchards covering nearly 360ha and worth about RM223.6mil in Raub, Jawi and Tasek.
Earlier, Police Inspector General Tan Sri Razarudin Husain said eight people had been arrested and RM3.17bil in assets had been seized in the case.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
5 hours ago
- Free Malaysia Today
Professionals, firms used to hide money trail in highway project, says MACC
MACC chief commissioner Azam Baki said the corporate figure with a 'Tan Sri' title involved has yet to be questioned as he is still warded at a private hospital. PETALING JAYA : The Malaysian Anti-Corruption Commission (MACC) revealed that the misappropriation of sukuk funds for a Klang Valley highway project involved professionals and multiple companies to obscure the flow of funds. MACC chief commissioner Azam Baki said the professionals involved included auditors, financial experts, as well as engineers, Utusan Malaysia reported. He also said the corporate figure with a 'Tan Sri' title involved has yet to be questioned as he is still warded at a private hospital. 'Today, investigators obtained a medical assessment from the attending doctor to verify the Tan Sri's condition before we can proceed to record his statement. 'In the meantime, 45 individuals who previously gave statements have been called back to provide further information,' he said. Azam added that the investigation team is also tracking down luxury vehicles and properties belonging to the Tan Sri in London and Switzerland. He said investigations now focus on the actual value of luxury alcoholic beverages in the Tan Sri's possession, amid suspicions that some of the misappropriated funds may have been transferred to other accounts. 'At the same time, a notice for asset declaration has been issued to the Tan Sri and other relevant parties,' he added. To date, the seized assets include 14 individual bank accounts totalling RM4.5 million, eight company accounts totalling RM33 million, a luxury condominium and a plot of land valued at RM24.5 million, as well as nine vehicles worth RM7.65 million. Azam said 13 more vehicles have yet to be handed over to investigators. Also seized were luxury watches worth around RM25 million, designer handbags valued at RM3 million, jewellery and diamonds worth RM6 million, and four horses valued at RM400,000. 'RM3 million worth of alcoholic beverages, overseas assets valued at over RM15 million, and gambling activities estimated at around RM20 million are also under investigation. 'Investigations are also focussing on RM12 million in bribes allegedly paid to certain parties to facilitate the movement of funds out and back into the suspect's possession,' he said. Previously, Azam said that the anti-graft agency was investigating three cases of alleged bribery and false claims connected to the Maju Expressway Extension (MEX II). He said the first investigation paper involves false claims amounting to RM361 million which came from sukuk funds, while the second case concerns false disclosures involving RM416 million in sukuk funds and RM50 million in bank loans. The third case involves certain parties who allegedly solicited and received around RM12 million in bribes.
New Straits Times
8 hours ago
- New Straits Times
MACC details RM143m assets seized in relation to sukuk fund misuse
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has detailed the assets seized during its investigation into the misappropriation of sukuk funds linked to a highway construction project in the Klang Valley involving a prominent individual holding the title Tan Sri. The funds were believed to have been misused by a highway concessionaire holder bearing the title 'Tan Sri', following operations carried out since last week. MACC Chief Commissioner Tan Sri Azam Baki said the seizures included RM4.5 million from 14 individual accounts and RM33 million from eight company accounts, as well as a luxury condominium and a plot of land worth RM24.5 million. "The commission also seized nine vehicles worth RM7.65 million, although 13 more have yet to be handed over to the investigating team. "The seizures also comprised luxury watches worth approximately RM25 million, handbags worth RM3 million, jewellery and diamonds valued at RM6 million, four horses worth RM400,000, alcoholic beverages worth RM3 million, foreign assets estimated to exceed RM15 million, and gambling activities believed to involve around RM20 million," he said. Azam said preliminary investigations revealed that the misappropriation occurred between 2016 and 2020, involving RM1.35 billion in sukuk funds. "False claims totalling around RM360 million and RM416 million were made, in addition to another RM50 million from other bank loan facilities. "The RM1.67 billion highway project also failed to be completed within the stipulated period. Investigations are now focusing on alleged bribery involving RM12 million paid to certain parties in exchange for assisting with fund outflows, which were later returned to the suspect," he said. Azam said the misappropriated funds are believed to have been laundered. He also said that professionals such as auditors, financial experts, engineers, and several companies were allegedly engaged in the scheme to layer and conceal the illicit flow of funds. "As of now, the MACC has not yet recorded a statement from the Tan Sri, as he is currently warded at a private hospital. Today, investigators will obtain confirmation from doctors regarding his health status before proceeding with the statement recording. "In the meantime, the total number of witness statements remains at 45, with several witnesses who had previously given their statements recalled for further questioning," he said. Azam also said the investigation team is tracking down the Tan Sri's luxury vehicles and properties located both locally and abroad, including in London and Switzerland. He added investigators are now focusing on determining the actual value of luxury alcoholic beverages in the Tan Sri's possession, amid suspicions that funds may have been transferred to other accounts. At the same time, a notice for declaration of assets has also been issued to the Tan Sri and related parties.
Free Malaysia Today
12 hours ago
- Free Malaysia Today
‘Datuk Seri' turns himself in after alleged pistol-whipping of woman in Penang
Timur Laut police chief Abdul Rozak Muhammad said the case is being investigated for voluntarily causing hurt using a dangerous weapon and carrying a firearm while drunk. (Facebook pic) PETALING JAYA : A man with a 'Datuk Seri' title has been arrested by police in George Town, Penang, on suspicion of pistol-whipping a woman motorist on Sunday. Timur Laut police chief Abdul Rozak Muhammad said the 28-year-old victim, a saleswoman, lodged a report over the incident which allegedly took place while she was driving on Jalan Kelawei at 2.30am on Sunday. The incident is believed to have stemmed from a misunderstanding between the suspect and victim, Buletin TV3 reported Rozak as saying. He added that the suspect, 41, was arrested at 9.30am today after turning himself in at the district police headquarters. 'The victim suffered severe injuries to her nose and eyes after being struck by the suspect with the pistol's handle. 'Police have seized a pistol, its magazine and the man's licence for possession of the firearm and ammunition,' said Rozak. The case is being investigated under Section 326 of the Penal Code for voluntarily causing hurt using a dangerous weapon and Section 34 of the Arms Act 1960 for carrying a firearm while drunk. The victim was said to be driving towards Tanjung Tokong with two friends when her car skidded and veered into the middle lane before continuing to drive. She then realised she was being tailed by a black Mercedes Benz, which later overtook her and blocked her in front of a petrol station on Jalan Kelawai. The suspect then allegedly placed his pistol into the victim's mouth before striking her several times with the weapon. In her police report, the victim claimed her assailant was drunk.
