The MACC has recorded statements from a former minister regarding his offshore wealth exposed in the Pandora Papers leak reported in 2021, according to media reports.
Utusan Malaysia and the New Straits Times reported that the ex-minister’s statement was recorded at MACC’s headquarters in Putrajaya yesterday, while a former prime minister’s son was summoned for questioning today.
An unnamed source reportedly told the news outlets the investigation is still at an early stage and more people will likely be questioned in relation to the Pandora Papers soon.
“The money flow to foreign investments and then the Pandora Papers report’s findings are being carefully studied and investigations are ongoing to see whether there has been any criminal element as stated in the international report,” a source was quoted as saying.
The individuals summoned for questioning were not named, as with common practice when it comes to people who have yet to be charged in court.
However, the former minister is described as a senior official in Dr Mahathir Mohamad’s administration and was reportedly asked, among others, to explain the money flow and investment into 12 offshore companies registered under him and his family members abroad.
Investigators are also reported probing to see whether the funds had come from government projects or not.
The Pandora Papers refer to a leak of financial documents and other records from 14 offshore service providers that set up and manage shell companies and trusts in tax havens around the globe.
The documents were disclosed to the International Consortium of Investigative Journalists (ICIJ), which in turn provided access to its partners, including Malaysiakini.
Among the Malaysian politicians found to have kept their wealth in tax havens include Deputy Prime Minister Ahmad Zahid Hamidi, International Trade and Industry Minister Tengku Zafrul Abdul Aziz, former finance minister Daim Zainuddin, and several others.
They each said in 2021 that their accounts were used for legitimate purposes.
Having offshore entities is not illegal, but in some instances, the practice has been linked to tax evasion or tax avoidance. In other cases, it is an attempt to maintain secrecy for various reasons.
The Pandora Papers revelation has led to calls for investigations and greater transparency. - Mkini
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