Tan Sri could be syed mokhtar?
Unless they settle with the investigators.
Is this why macc boss contract was extended?
FMT Reporters - 19 May 2023, 12:49pm
118Shares
Share
A source says the MACC investigation is linked to the purchase and ownership of shares in a major listed company said to have been orchestrated by the former senior minister.
PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has opened several investigation papers against a former senior minister and a businessman with a “Tan Sri” title in relation to the embezzlement of state funds worth more than RM2.3 billion.
A source said the investigation comes following the disclosure of confidential documents by the International Consortium of Investigative Journalists (ICIJ) regarding transactions suspected to have been carried out in several offshore financial centres.
Stay up-to-date by following FMT's Telegram channel
FMT
“The focus of the investigation is in relation to the purchase and ownership of shares in a listed company by a national giant that is said to be orchestrated by this former senior minister,” said the source.
Ads by Kiosked
“It is also understood that the purchase and ownership of these shares is believed to be the cause of the national economy’s decline and the fall of the ringgit in the late 1990s.”
The source said the shares had been misappropriated to “bail out” the individuals involved and to save them from suffering worse losses.
The MACC’s investigation is also focused on transactions resulting from the sale of shares of the listed company, the source said.
The investigation also covers the ownership of billions of ringgit worth of assets both within Malaysia and abroad owned by the businessman, the former senior minister, and their family members.
The source said MACC had recorded statements from 14 witnesses in the past few weeks regarding this investigation.
This includes testimony from business figures and former senior ministers related to the confidential documents revealed by the Pandora Papers.
Ads by Kiosked
When contacted, MACC chief commissioner Azam Baki confirmed the matter and said the case is being investigated under Section 23 of the MACC Act 2009, which sets out the offence of using one’s office or position for gratification.
The case is also being investigated for money laundering under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
The Pandora Papers refer to the millions of leaked documents put together by an international consortium of investigative journalists and made public in October 2021 that allegedly reveal offshore accounts of present and past leaders, including presidents, prime ministers, billionaires and prominent business people.
The data leak is the biggest of its kind and involves nearly 12 million documents and other records from offshore service providers who help set up and manage shell companies around the world.
The Malaysians who have been linked to it include former finance ministers Daim Zainuddin and Tengku Zafrul Aziz, Umno president Ahmad Zahid Hamidi, PKR’s Selayang MP William Leong, as well as parents of fugitive financier Low Taek Jho, or Jho Low.
Unless they settle with the investigators.
Is this why macc boss contract was extended?
MACC probes ex-senior minister, businessman over RM2.3bil state funds
The investigation also covers billions in assets allegedly owned by the duo and their family members both in and outside Malaysia.FMT Reporters - 19 May 2023, 12:49pm
118Shares
A source says the MACC investigation is linked to the purchase and ownership of shares in a major listed company said to have been orchestrated by the former senior minister.
PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has opened several investigation papers against a former senior minister and a businessman with a “Tan Sri” title in relation to the embezzlement of state funds worth more than RM2.3 billion.
A source said the investigation comes following the disclosure of confidential documents by the International Consortium of Investigative Journalists (ICIJ) regarding transactions suspected to have been carried out in several offshore financial centres.
Stay up-to-date by following FMT's Telegram channel
FMT
“The focus of the investigation is in relation to the purchase and ownership of shares in a listed company by a national giant that is said to be orchestrated by this former senior minister,” said the source.
Ads by Kiosked
“It is also understood that the purchase and ownership of these shares is believed to be the cause of the national economy’s decline and the fall of the ringgit in the late 1990s.”
The source said the shares had been misappropriated to “bail out” the individuals involved and to save them from suffering worse losses.
The MACC’s investigation is also focused on transactions resulting from the sale of shares of the listed company, the source said.
The investigation also covers the ownership of billions of ringgit worth of assets both within Malaysia and abroad owned by the businessman, the former senior minister, and their family members.
The source said MACC had recorded statements from 14 witnesses in the past few weeks regarding this investigation.
This includes testimony from business figures and former senior ministers related to the confidential documents revealed by the Pandora Papers.
Ads by Kiosked
When contacted, MACC chief commissioner Azam Baki confirmed the matter and said the case is being investigated under Section 23 of the MACC Act 2009, which sets out the offence of using one’s office or position for gratification.
The case is also being investigated for money laundering under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
The Pandora Papers refer to the millions of leaked documents put together by an international consortium of investigative journalists and made public in October 2021 that allegedly reveal offshore accounts of present and past leaders, including presidents, prime ministers, billionaires and prominent business people.
The data leak is the biggest of its kind and involves nearly 12 million documents and other records from offshore service providers who help set up and manage shell companies around the world.
The Malaysians who have been linked to it include former finance ministers Daim Zainuddin and Tengku Zafrul Aziz, Umno president Ahmad Zahid Hamidi, PKR’s Selayang MP William Leong, as well as parents of fugitive financier Low Taek Jho, or Jho Low.
