The MACC today obtained a four-day remand order against a former CEO of a government statutory body and a company chairperson over a share transaction scandal alleged to have caused public fund losses of over RM300 million.
Magistrate Azeren Zakariah allowed the two suspects, aged in their 40s and 50s, to be remanded until April 12, following MACC’s application at the Putrajaya Magistrate’s Court this morning.
According to sources, the arrests were made following investigations into a share sale transaction to a government statutory body that took place between 2022 and 2023.
“Preliminary investigations found that the transaction involved unreasonable price valuations (overvaluation) and was not commensurate.
“The transaction is believed to have resulted in substantial losses to public funds, estimated to exceed RM300 million.
“Both suspects were detained at about 6pm yesterday after they presented themselves to give statements at the MACC headquarters in Putrajaya,” the source told Malaysiakini.
The two suspects are believed to have colluded with several board members and shareholders of the company involved to carry out the transaction.
MACC Special Operations Division conducted raids at 13 key locations in the Klang Valley, including government agency premises, public interest companies, and residences of identified individuals.
To date, authorities have frozen 62 bank accounts, comprising both personal and company accounts, involving approximately RM450 million.
When contacted, the division’s senior director, Zamri Zainul Abidin, confirmed the arrests and said the case is being investigated under Section 16 of the MACC Act 2009. - Mkini
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