Latest news with #luxuryassets
Malay Mail
2 days ago
- Business
- Malay Mail
MACC seizes six luxury homes worth RM12m, thoroughbred horse in sukuk funds scandal involving ‘Tan Sri'
KUALA LUMPUR, May 31 – The Malaysian Anti-Corruption Commission (MACC) has seized six luxury homes and a plot of land belonging to a 'Tan Sri' as part of a probe into the alleged misappropriation of sukuk funds meant for highway construction in the Klang Valley. The Star reported citing a source saying properties, estimated to be worth around RM12 million, were confiscated following a raid conducted by the MACC's investigation division. 'During the raid, the MACC also discovered a thoroughbred horse worth hundreds of thousands of ringgit, believed to have been purchased using sukuk funds,' the MACC said in a statement yesterday. 'As a result, the MACC has summoned the individual involved along with his wife for questioning, but only the woman appeared, as her husband reportedly has health issues." MACC added that it planned to call between 30 and 50 witnesses to assist with the investigation. Efforts are ongoing to trace the couple's assets both locally and abroad. Earlier this week, the MACC seized luxury assets worth RM32 million during raids on two residences belonging to the Tan Sri in the capital. MACC investigators confiscated nine high-end vehicles including Bentley, Mercedes-Benz, and Range Rover models valued at nearly RM7 million. The operation also uncovered 217 luxury watches worth RM5 million, 27 designer handbags valued over RM1 million, and jewellery estimated at RM4 million. A hidden storage area containing luxury alcoholic beverages worth RM3 million was also found, believed to be linked to money laundering activities. MACC further seized a RM12 million luxury condominium, with all items now being investigated under the MACC Act 2009 and AMLA 2001. The probe, which began on May 9, follows earlier arrests of four individuals accused of submitting false claims worth RM360 million for a highway project between 2016 and 2017, with over RM36 million in assets seized so far.
Malay Mail
3 days ago
- Business
- Malay Mail
MACC seizes RM32m in luxury property, vehicles and cash from Tan Sri over false highway project claims
KUALA LUMPUR, May 30 — The Malaysian Anti-Corruption Commission (MACC) has seized luxury assets worth RM32 million from a Tan Sri who is under investigation for allegedly making false claims and misusing loan bonds related to a highway construction project in the Klang Valley. According to a source, MACC investigators from the Investigation Division confiscated the assets during raids on two residences belonging to the Tan Sri in the capital today. 'MACC seized nine luxury vehicles including Bentley, Mercedes-Benz and Range Rover cars, with an estimated value of nearly RM7 million,' the source said. 'In the same operation, MACC also seized 217 luxury watches worth around RM5 million, 27 designer handbags valued at over RM1 million, and jewellery worth more than RM4 million,' the source told Harian Metro. The source added, 'MACC also found a storage area containing a wide variety of luxury alcoholic beverages at one of the residences, estimated to be worth around RM3 million.' These items are believed to be linked to money laundering activities. 'During the operation, MACC also seized a luxury condominium unit in the capital, estimated to be worth RM12 million,' the source said. All items and properties were seized for further investigation under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). Last month, media reported that four individuals, including a Datuk Seri, were arrested on suspicion of submitting false claims totalling around RM360 million. The suspects — three men and one woman aged between their 50s and 70s — were detained when they came to give statements at the MACC office. They are suspected of submitting false claims worth about RM360 million using sukuk funds for a highway construction project in the Klang Valley valued at approximately RM1.3 billion between 2016 and 2017. MACC Chief Commissioner Tan Sri Azam Baki was reported to have said that three investigation papers were opened after the probe began on May 9. He said, 'In the investigation, MACC seized RM1.9 million in cash, two luxury vehicles worth RM900,000 and bank accounts containing RM34 million.'
