Latest news with #RM24.5mil
The Star
a day ago
- Business
- The Star
Highway graft probe: MACC records Tan Sri's statement for over seven hours
KUALA LUMPUR: A Malaysian Anti-Corruption Commission (MACC) investigation team vehicle was seen leaving the residence of a businessman with the title Tan Sri after recording his statement for more than seven hours, Sinar Harian reports. The Malay language daily reported that MACC recorded the individual's statement to assist in investigations related to the misappropriation of funds from a sukuk for a highway project. A car carrying two investigation officers was seen departing from the location at approximately 4:30pm Thursday (June 19). Earlier, the MACC investigation team arrived at the residence at around 9:10am to record the individual's statement. Observations revealed that the residence area was still under tight security by auxiliary police officers, including the installation of barricade cones to prevent the public from approaching the location. On Monday (June 16), MACC chief commissioner Tan Sri Azam Baki reported that the recording of the individual's statement under investigation would continue Thursday. This is the third time the investigation team has taken statements, following similar actions on June 11 and 12. Previously, the MACC seized domestic assets totaling RM141mil and is currently tracing overseas assets worth RM15mil linked to the misappropriation of funds from the highway construction project's sukuk. The seized assets include individual accounts amounting to RM4.5mil, company accounts totaling RM33mil, luxury condominiums and land valued at RM24.5mil, luxury watches worth RM26mil, nine luxury cars valued at RM7.65mil, and jewellery and diamonds worth RM10mil. Other seized items include luxury handbags valued at RM6mil, gold bars, statues, and coins estimated at RM3mil, and four horses valued at RM400,000.
The Star
08-06-2025
- 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
31-05-2025
- The Star
MACC seizes RM85.6mil in assets in highway funds probe
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized and frozen assets and bank accounts worth an estimated RM85.6mil as part of an ongoing investigation into the alleged misuse of sukuk funds linked to a Klang Valley highway project. The probe centres on a concessionaire with a "Tan Sri" title suspected of diverting the project's funds for personal use. MACC Chief Commissioner Tan Sri Azam Baki said seizures include 14 individual bank accounts with RM4.5mill and eight company accounts with RM33mil. Also confiscated were luxury vehicles (RM7.65mil), designer handbags (RM3mil), jewellery (RM6mil), high-end watches (RM7mil) and properties valued at RM24.5mil. "We believe hundreds of millions in sukuk funds were channelled to the contractor's company owned by the Tan Sri and later misused for personal interests rather than the intended highway project," Azam said. The funds were allegedly transferred to multiple entities, including proxy companies and the personal account of the Tan Sri's wife, and used to acquire assets such as real estate, luxury vehicles and goods and to fund gambling activities. Azam added that the money could also have been used to finance local and overseas property purchases and investments, which were concealed through layered transactions designed to obscure their origin. As of now, investigators have not yet recorded a statement from the Tan Sri as he is in hospital. "We are reviewing the acquisition trail of these assets and obtaining relevant bank documents, including those tied to the suspect, to support our analysis," he said. To date, 45 individuals have had their statements recorded, with another 30 to 50 witnesses expected to be called in. Family members of the Tan Sri may also be summoned. Earlier reports noted that MACC had seized various luxury items, including handbags, jewellery, watches, vehicles, cash, and high-end residences, worth around RM32mil, believed to be linked to the same individual. During a Thursday operation, officers also discovered a storage room stocked with luxury alcoholic beverages valued at about RM3mil, suspected to be tied to money laundering activities. All assets were seized under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for further investigation. – Bernama
