PUTRAJAYA, April 9 — The Malaysian Anti-Corruption Commission (MACC) has remanded a former chief executive of a government statutory body and a company chairman over alleged collusion in a share sale deal linked to the agency.
The Magistrates’ Court here granted a four-day remand until April 12 against both men after an application by MACC this morning.
According to sources, the suspects, aged in their 40s and 50s, were arrested at about 6pm yesterday when they turned up to give statements at the MACC headquarters in Putrajaya.
“Preliminary investigations found that both suspects are believed to have conspired to carry out the act between 2022 and 2023.
“Initial findings also indicate that the share sale transaction involved an unreasonable valuation (overvaluation) that was disproportionate, resulting in estimated losses to public funds exceeding RM300 million,” the source said.
MACC’s Special Operations Division has also conducted raids at 13 locations across the Klang Valley, including government-linked agencies, companies of public interest, offices and residences of individuals identified in the probe.
Authorities have frozen 62 personal and company bank accounts linked to the case, involving approximately RM450 million.
MACC Special Operations Division senior director Datuk Mohamad Zamri Zainul Abidin confirmed the arrests, adding that the case is being investigated under Section 16 of the MACC Act 2009.
He said investigators are also looking into possible criminal breach of trust and other related offences, particularly those involving money laundering.
