Court told of RM2.8mil introduction fee for Bung’s wife

 

Bung Moktar Radin and his wife Zizie Izette arriving at the sessions court in Kuala Lumpur. (Bernama pic)

KUALA LUMPUR: The sessions court here heard today that Bung Moktar Radin’s wife, Zizie Izette Abdul Samad, was eligible to receive an introduction fee of RM2.8 million because she convinced her husband to obtain Felcra’s approval to invest RM150 million in Public Mutual unit trusts.

Unit trust consultant Norhaili Ahmad Mokhtar, 45, said the fee was part of her marketing strategy as Zizie had also introduced a senior Felcra officer to make an investment.

“I contacted Datin Seri (Zizie) to say that the investment made by Felcra (RM150 million) was successful. At the same time, I got a commission from the investment. I then told Datin Seri that I wanted to give her the introduction fee.

“I’m an (investment) expert who tells Malaysians about the benefits of unit trusts, but I can’t get into big companies that don’t know what I’m doing,” she said.

The 25th prosecution witness said this during the examination-in-chief by deputy public prosecutor Law Chin How in the corruption trial faced by Bung and his wife before judge Rozina Ayob.

Touching on the commission earned after successfully obtaining the RM150 million investment, Norhaili said she and unit trust agent Madhi Abdul Hamid, 43, each earned a commission of RM2.9 million.

“Upon getting the commission, Madhi and I discussed the management of the commission, taking into account factors such as Felcra’s investment management and long-term operating costs as these investments take over seven years to mature, and we also take into account tax costs during that period,” she said.

When asked by Law why Zizie had to be paid RM2.8 million, the witness said Zizie was eligible to receive the introduction fee after taking into account all costs, taxes and monthly benefits as long as the investment was under her care.

“I don’t see the amount as being large, but I am looking at managing Felcra’s account for the long term. Hence, Datin Seri Zizie Izette was eligible to receive it (introduction fee).

“As far as I remember, the RM2.2 million advance payment in cash at Public Bank in Melawati was managed by Madhi, the remaining RM800,000 was put back into Public Mutual Berhad in the name of Datin Seri Zizie Izette,” Norhaili said.

Asked by Law why Public Bank only paid RM2.2 million when RM2.8 million should have been paid to Zizie, the witness said: “At that time, Public Bank did not have enough cash and I also advised Datin Seri (Zizie Izette) to make investments in Public Mutual.

“I advised her to invest between RM600,000 to RM800,000, and this was managed by Madhi and another Public Mutual consultant,” she added.

The witness said she could not remember how many cheques were issued, but the name Public Mutual Berhad and Zizie’s identity card number were written on them.

During the proceeding, Norhaili testified that there was no element of corruption nor were there any request for bribes from Bung and Zizie.

Norhaili will continue her testimony on Feb 14.

Counsel K Kumaraendran represented Zizie Izette and M Athimulan acted on behalf of Bung.

On May 3, 2019, Bung, who is Kinabatangan MP, pleaded not guilty to two charges of accepting bribes amounting to RM2.2 million and RM262,500 as an inducement to obtain Felcra’s approval to invest RM150 million in Public Mutual unit trusts.

Bung, 64, who was the non-executive chairman of Felcra at the time, was accused of accepting bribes from Madhi through Zizie at Public Bank’s Taman Melawati branch here between 12.30pm and 5pm on June 12, 2015.

He also pleaded not guilty to accepting a RM335,500 cash bribe from Norhaili through Zizie for the same reason and at the same place on June 19, 2015.

Zizie, 44, pleaded not guilty to three charges of abetting her husband in the matter at the same place, date and time. - FMT