Loading...

MACC arrested three individuals suspected of misappropriating company funds

Loading...
Loading...


MACC arrested three individuals suspected of misappropriating company funds

Named

09/08/2024
The Malaysian Anti-Corruption Commission (MACC) remanded three individuals including a Group Chief Executive Officer (GCEO) on suspicion of embezzling RM1.5 million in funds belonging to a publicly listed company. - Photo courtesy of MACC

MACC arrested three individuals suspected of misappropriating company funds

The Malaysian Anti-Corruption Commission (MACC) remanded three individuals including a Group Chief Executive Officer (GCEO) on suspicion of embezzling RM1.5 million in funds belonging to a publicly listed company. - Photo courtesy of MACC

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has remanded three individuals including a Group Chief Executive Officer (GCEO) on suspicion of embezzling RM1.5 million in funds belonging to a publicly listed company.

According to MACC sources, all the suspects were arrested around 7pm to 9pm yesterday when they appeared to testify at the Putrajaya MACC Office, regarding irregularities involving construction and mining projects worth about RM80 million.

"Preliminary investigations found that all the suspects were also believed to be involved in setting up a company that was not approved by the Board of Directors, for the purpose of carrying out a collaborative project worth approximately RM258 million.







"In addition, they are also suspected of being involved in misappropriating property rental collection funds belonging to the company worth approximately RM3 million," according to the source.

A four-day remand order until August 12 was imposed on two suspects, a man and a woman, each aged between 40 and 50, by Magistrate Irza Zulaikha Rohanuddin, after an application was made to the MACC at the Putrajaya Magistrate's Court this morning.

Meanwhile, MACC Senior Director of Investigation Datuk Seri Hishamuddin Hashim when contacted, confirmed the arrest and said the case is being investigated in accordance with Section 16(a)(A) of the MACC Act 2009.

Loading...