Highway probe: RM11mil misappropriated converted into digital currency [WATCH]

New Straits Times

5 hours ago

PUTRAJAYA: In a new development, at least RM11 million in misappropriated sukuk funds meant for a highway extension project was converted into digital currency.
Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki said the digital currency was then used for undisclosed purposes.
"We are now tracing how the funds were withdrawn and used," he told reporters today.
He said the money is believed to have been siphoned from sukuk funds and spent via digital means, which is now under detailed investigation.
"Further investigations are ongoing, including examining the connections between these transactions and several other witnesses," he said, adding that at least 10 more people will be called soon as the probe continues actively.
Azam said to date, the MACC has recorded statements from 55 individuals and made nine arrests.
"A number of raids have also been carried out, including at the suspect's residence.
"In total, 14 individual bank accounts and eight company accounts have been frozen, involving funds amounting to RM156 million," he said, adding that the investigation is being conducted under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.
He said the probe also involves embezzlement activities linked to unlicensed alcohol and gambling, believed to involve RM25 million from the misappropriated sukuk funds.
"We expect to complete the investigation within two months, possibly earlier.
"We will provide updates as needed," he added.
Earlier, it was reported that around 20 witnesses would be called by the MACC as part of its ongoing investigation into the alleged misappropriation of sukuk funds meant for the construction of a highway in the Klang Valley.
This includes recalling witnesses who had previously given statements to gather further information on the fund, which is worth millions of ringgit.
The investigation team is scrutinising various documents, including bank records, and recording statements from bank personnel to verify the contents of those records.
So far, the MACC has seized RM141 million worth of assets in Malaysia linked to the case and is currently tracking RM15 million in foreign assets.