More than RM39 million in bank accounts, including those belonging to a former senior minister, two businessmen with the title ‘Tan Sri’ and their family members, have been frozen following an investigation into the misappropriation of national funds amounting to RM2.3 billion.
The Malaysian Anti-Corruption Commission (MACC) said it involved 192 bank accounts, including 35 company accounts and 157 individual accounts.
It said that it has also recorded the statements of the two individuals with the title of ‘Tan Sri’, in addition to conducting searches at the residences and related premises involving a former senior minister and a businessman, on Wednesday.
All of them have been served notices in accordance with Section 36 of the MACC Act 2009 and Section 44 of the Anti-Money Laundering, Anti-Terrorist Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001, MACC said in a statement.
“Several documents related to the case have also been obtained,” said MACC, adding that currently, it is actively obtaining information related to the misappropriation of the country’s funds.
On May 19, it was reported that a former senior minister and a prominent businessman with the title of ‘Tan Sri’ were being investigated by the MACC, in accordance with the MACC Act 2009 and AMLATFPUAA 2001, regarding the misappropriation of RM2.3 billion of the country’s funds.
The source said the investigation is a continuation and extension of the disclosure of confidential documents by the International Consortium of Investigative Journalists (ICIJ) regarding suspected transactions in several offshore financial centres.
MACC chief commissioner, Tan Sri Azam Baki, when contacted, confirmed the matter and said the investigation is focused on Section 23 of the MACC Act 2009 regarding the offence of misuse of power to obtain bribes and the offence of money laundering under Section 4 (1) AMLATFPUAA 2001.
Source : Malay Mail
According to reliable sources, the investigation is a continuation and addition to the disclosure of confidential documents made by the International Consortium of Investigative Journalists (ICIJ) regarding suspected transactions in several offshore financial centres.
“The focus of the investigation is in relation to the purchase and ownership of shares in a giant listed company that is said to be orchestrated by this former senior minister.
“It is also understood that this transaction of purchase and ownership of shares is believed to be the cause of the decline of the national economy and the fall of the ringgit currency in the late 1990s.
“The shares had also been misappropriated for the benefit of the individuals involved to be saved (bail out) from suffering losses,” said the source.
Sources said the investigation also focused on transactions from the sale of shares of the listed company and that the investigation also covered the ownership of valuable assets owned by a businessman with the title of Tan Sri and a former senior minister and their family members.
The assets owned are estimated to be worth billions of ringgit both inside and outside the country.
They are investigated under the Malaysian Anti-Corruption Commission (ASPRM) Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
The source added that MACC had also recorded the testimony of about 14 witnesses in the past few weeks who included business figures and former senior ministers related to the confidential documents revealed by the Pandora Papers.
At least 10 wealthy Malaysians, including businessmen and politicians, were named in the Pandora Papers, which shed light on offshore companies and trusts used to stash away fortunes and evade taxes.
Among the names mentioned were former finance minister Tun Daim Zainuddin, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi, International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and Selayang MP William Leong.
Source : NST