MACC nabs former CEO

Arrest made for fund misappropriation worth RM1.2bil

PUTRAJAYA: A former chief executive officer of a statutory body has been arrested by the Malaysian Anti-Corruption Commission (MACC) over suspicion of power abuse and misappropriation of development funds worth RM1.2bil.

The suspect, in his 60s, was arrested at 8pm on Wednesday after he was summoned to the MACC office here for his statement to be recorded.

Yesterday, he was brought to the Magistrate’s Court, and a two-day remand order until today was issued by Magistrate Irza Zulaikha Rohanuddin.

Sources said the suspect is believed to have abused funds by transferring part of the loan, which the agency had received from the Finance Ministry, to contractors and consultants that were unrelated to the projects.

“Checks found that the suspect had transferred funds but not to companies named in the application for government loans,” the source said.

It was learnt that he had been doing illegal transactions between 2019 and 2021.

The Malaysian Anti-Corruption Commission’s senior director of investigation, Datuk Seri Hishamuddin Hashim, confirmed the arrest.

On Wednesday, the MACC remanded two senior officials from the statutory body in the same case.

The two suspects, in their 50s, are believed to have transferred part of the RM1.2bil funds to contractors and negotiators for purposes unrelated to the development’s cost.