Latest news with #forfeiture
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
MACC to file application to forfeit Ilham Tower
MACC seized Ilham Tower yesterday for the second time. (Website pic) PETALING JAYA : The Malaysian Anti-Corruption Commission will file an application to forfeit the Ilham Tower in Kuala Lumpur next week, says its chief, Azam Baki. Azam said the forfeiture application would be filed under Section 55 or 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla), Utusan Malaysia reported. Section 56 of Amla provides for the forfeiture of property where there is no prosecution, if a High Court judge is satisfied that the asset was the subject-matter or evidence relating to the commission of an offence under the Act, the proceeds of an unlawful activity, or the instrumentalities of an offence. MACC first seized the 274m-tall tower owned by the late Daim Zainuddin and his family under the MACC Act in December 2023. It previously said it could seize the tower for up to 18 months pending investigations. Yesterday, it announced it had seized the tower again, this time under Amla. Daim's widow, Naimah Khalid, plans to challenge the seizure in court. Last month, MACC opened eight new investigation papers into 'high-value' assets linked to Daim and his family members after receiving new information from overseas.
Free Malaysia Today
28-05-2025
- Business
- Free Malaysia Today
MACC may open more probe papers in plans to seize Daim's assets, says chief
MACC chief commissioner Azam Baki said the total value of detected assets so far is RM2 billion, divided into parts that need to be forfeited separately. PETALING JAYA : The Malaysian Anti-Corruption Commission (MACC) has not rejected the possibility that more investigation papers will be opened in pushing for the forfeiture of undeclared high-value assets linked to the late Daim Zainuddin and his family members. Sinar Harian reported chief commissioner Azam Baki as saying MACC was working to determine the ownership of the assets, believed to have been obtained illegally. 'The total value of detected assets so far is RM2 billion, divided into parts that need to be forfeited separately. 'Every asset involved needs an application for an investigation paper. So far, only eight papers have been opened, but this number may increase,' he said today. Last Thursday, MACC said it opened more investigation papers after receiving new information from overseas. Azam said the findings stemmed from investigations carried out in 2023, and that the failure to declare assets was an offence under the law. He said the final decision would rest with the deputy public prosecutor, and that he had given the investigating officers two months to complete the probe papers.
Free Malaysia Today
23-05-2025
- Business
- Free Malaysia Today
‘This is robbery', Dr M bristles at plans to seize Daim's assets
Former prime minister Dr Mahathir Mohamad said that his former finance minister had yet to be convicted of theft. KUALA LUMPUR : Dr Mahathir Mohamad today criticised the decision by the Malaysian Anti-Corruption Commission (MACC) to push for the forfeiture of high-value assets linked to the late Daim Zainuddin and his family members after initiating a fresh probe. 'This is robbery. You can't just take people's property,' the two-time prime minister told reporters after launching a book titled '100 Pesan Tun: Membina Keluarga Dan Bangsa' here. He also said that Daim, who had been his trusted confidante, was not convicted of theft. 'If you can prove that he was found guilty of stealing, then you can take whatever he has,' he said. Yesterday, MACC said it had opened eight new investigation papers into the 'high-value' assets. MACC chief commissioner Azam Baki said the investigations were prompted by new information received from overseas. He said the findings stemmed from investigations carried out in 2023, adding that the failure to declare assets constitutes an offence under the law. Azam also confirmed that while Daim had died last year, MACC would move forward with recommending the forfeiture of the assets in question, although the final decision would rest with the deputy public prosecutor. Mahathir said Daim, who died last November, had contributed to the nation by investing his profits back into the country. He said this was exactly what he had expected of the tycoon. 'That is what we want. You can do business anywhere, but bring back your money here (to Malaysia). 'And he brought back the money and was able to build a skyscraper with that money.' Mahathir also accused the government of 'stealing' the money now that Daim was no longer able to defend himself.
