Latest news with #RM143mil
The Star
2 days ago
- Business
- The Star
Sukuk misuse case: Tan Sri to be quizzed soon following hospital discharge, says Azam
KUALA LUMPUR: A Tan Sri who is under investigation by the Malaysian Anti-Corruption Commission (MACC) over the alleged misappropriation of sukuk funds linked to a Klang Valley highway project is expected to be called in for questioning soon. The individual, who was recently discharged from hospital, is also being investigated for overseas asset ownership and high-stakes gambling activities involving millions of ringgit. MACC chief commissioner Tan Sri Azam Baki confirmed that the Tan Sri, who is believed to be a highway concession holder, had yet to give his statement due to recent medical treatment at a private hospital, reported Astro Awani. 'A statement has not yet been recorded from the Tan Sri, but I have been informed that doctors have recently allowed him to be discharged. My officers will be contacting him soon to arrange an appointment,' said Azam on Saturday (June 7). He added that while the individual is a key witness in the case, MACC has already recorded statements from 45 other witnesses, some of whom have been recalled to assist further in the investigation. 'He is indeed one of the individuals we have yet to question, but we already have testimonies from other witnesses. I cannot confirm whether additional witnesses will be required after his statement,' Azam said. According to sources, MACC had earlier obtained medical confirmation from the doctor regarding the Tan Sri's condition before proceeding to plan for his interview. The investigation centres around the suspected misappropriation of sukuk bonds intended for the construction of a highway. On June 3 last year, MACC disclosed that they had seized assets valued about RM143mil from the individual as part of the probe. This included luxury vehicles and properties owned by the Tan Sri, both locally and abroad, including in London and Switzerland. The seized assets comprised 14 personal bank accounts totalling RM4.5mil, eight company accounts with RM33mil, a luxury condominium and a parcel of land valued at RM24.5mil, nine luxury cars worth RM7.65mil, designer watches valued at around RM25mil, handbags worth RM3mil, jewellery and diamonds estimated at RM6mil, and four horses valued at RM400,000. Other seized items include high-end alcoholic beverages worth RM3mil, foreign assets estimated at over RM15mil, and gambling-related activities involving about RM20mil. Azam said asset declaration notices have been handed to the Tan Sri and other related parties.
The Star
6 days ago
- Business
- The Star
Assets worth RM143mil linked to highway sukuk misuse seized
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized assets linked to the misuse of sukuk funds of the construction of a highway in Klang Valley believed to be owned by a highway concessionaire with a Tan Sri title totalling RM143mil during an operation conducted last week. Its chief commissioner Tan Sri Azam Baki said the seizures include 14 individual accounts totalling RM4.5mil, eight company accounts totalling RM33mil, luxury condominium and land worth RM24.5mil, nine cars worth RM7.65mil, and 13 cars that have yet to be handed over to the investigation team. Other items seized include luxury watches worth RM25mil, handbags worth RM3mil, jewellery and diamonds (RM6mil), four horses (RM400,000), alcoholic beverages (RM3mil), foreign assets worth more than RM15mil and around RM20mil in gambling activities. "Preliminary investigations revealed there was misconduct between 2016 and 2020 involving approved sukuk funds of about RM1.35bil, involving false claims of about RM360mil and RM416mil and RM50mil in other bank facility loans. "The RM1.67bil highway project also failed to be completed according to schedule and investigations are focused on bribes worth RM12bil paid to certain parties as inducement in helping the cash flow out and back to the suspect,' he said in a statement on Tuesday (June 3), adding that the proceeds were also believed to have been used in money laundering activities. He explained that to embezzle the funds, the parties involved were believed to have used professionals such as auditors, financial experts, engineers and shell companies. "Until now, the MACC has yet to take the Tan Sri's statement as he is in a private hospital ward and today the investigating officer will get confirmation from the doctor on the status of the Tan Sri's health before recording his statement. "Meanwhile, the number of witness statements stands at 45, and those witnesses who have given their statements have been asked to provide further statements,' he said, adding that the investigating team is also tracking down luxury vehicles and properties belonging to the Tan Sri abroad, including in London and Switzerland. The investigation is focused on the true amount of luxury liquor kept by the Tan Sri and the possibility that funds have been transferred to other accounts, he said. He added that an asset declaration notice has been handed to the Tan Sri and other related parties. - Bernama
