S
Sun Quan
Guest
Thursday January 6, 2011
CEO held over RM6mil scam
By LOURDES CHARLES
[email protected]
KUALA LUMPUR: A chief executive officer (CEO) of a corporate company has been arrested for allegedly raking in more than RM6mil by claiming he could obtain government projects with his connections in the Finance Ministry.
The 60-year-old, who was arrested together with several others, is expected to be charged at the Shah Alam Sessions Court here today with using a forged document, and claiming it to be genuine.
Sources said Malaysian Anti-Corruption Commission (MACC) officers from Penang led by its director Datuk Latifah Yatim exposed the syndicate’s activities following several reports lodged with them.
They said that one of the syndicate members, claiming to be a Datuk, was used to convince clients or potential clients that the group was well-connected.
It is learnt that the syndicate members would produce a letter purportedly from the Government awarding a contract for a non-existent project. The syndicate members would then seek parties interested in obtaining the “project”.
Sources said the syndicate members had raked in more than RM6mil from one “project” alone, allegedly for the supply and installation of road reflectors for all federal and state roads throughout the country.
It is not immediately known if the MACC had recovered any money but talk is rife that the CEO had spent the money.
The sources also said the Penang MACC was investigating claims that the syndicate had been involved in such scams for some time and that scores of people and companies had been swindled of millions of ringgit.
They have not ruled out the possibility that others could be involved and appealed to those who may have had dealings with the company to assist the MACC in their investigations.
Latifah could not be reached for comment.
