Duo in RM230mil misappropriation case released on bail

 A deputy chairman of an NGO and a company director were released today after their five-day remand ended.

MACC has seized 18 luxury vehicles and more than RM18.3 million worth of immovable assets as part of its probe into the alleged misappropriation of RM230 million in funds.

PETALING JAYA:

 A deputy chairman of an NGO and a company director who were remanded to assist in a probe into the alleged misappropriation of RM230 million in funds have been freed on bail by the Selangor Malaysian Anti-Corruption Commission (MACC).

According to sources, both suspects were released today after their remand – which was extended for five days on April 25 – ended today, Sinar Harian reported.

Selangor MACC director Azwan Razali confirmed the matter when contacted.

The deputy chairman of the NGO is believed to have transferred RM230 million into his company’s bank accounts for personal and investment purposes.

MACC has seized 18 luxury vehicles and more than RM18.3 million worth of immovable assets – seven residential properties, three office units and four plots of land – as part of its probe into the matter.

The anti-graft agency has also frozen 33 bank accounts holding a total of RM120 million.

Pertubuhan Ikram Malaysia (Ikram) previously said it had suspended three members nabbed by MACC in connection with the case.

It stressed that the matter involved individual acts and did not directly involve Ikram, a faith-based organisation engaged in Islamic outreach, education, and welfare programmes. - FMT