00:00A former CEO of a government-linked statutory body and a company chairman have been remanded
00:06for four days until April 12 over a suspected irregular share transaction.
00:12The remand order was issued by Magistrate Azaren Zakaria at the Putrajaya Magistrate's
00:18Court on Thursday following an application by the Malaysian Anti-Corruption Commission
00:22M.A.C.C. The suspects, believed to be in their 40s and 50s, were arrested on Wednesday evening
00:30when they turned up to give statements at the M.A.C.C. headquarters in Putrajaya.
00:35Initial investigations indicate they allegedly colluded with several board members and shareholders
00:41in a share sale involving the statutory body between 2022 and 2023, which is believed to have
00:49been overvalued and caused losses exceeding 300 million ringgit.
00:53Sources said the M.A.C.C. Special Operations Division conducted raids at 13 locations across
01:00the Klang Valley, including government-linked agencies, companies, offices and residences.
01:06A total of 62 personal and company bank accounts involving about 450 million ringgit have been frozen.
01:14M.A.C.C. Special Operations Division, Senior Director Datuk Mohamed Zamri Zainal Abedin confirmed
01:22the arrests, adding that the case is being investigated under Section 16 of the M.A.C.C. Act 2009.
Comments