Malaysia: MACC to question Tan Sri over sukuk misuse and gambling links
Highway project funds allegedly diverted for luxury purchases and bets.
Key points:
– RM20m ($4.2m) allegedly channelled into high-stakes gambling
– Assets worth RM143m seized from suspect
– MACC has taken statements from 45 witnesses to date
As reported by The Star, a Tan Sri suspected of siphoning sukuk funds intended for a Klang Valley highway project is expected to be summoned by the Malaysian Anti-Corruption Commission (MACC) in the coming days. Investigators believe the individual, who was recently discharged from a private hospital, is also linked to overseas assets and gambling activities involving tens of millions of ringgit.
MACC Chief Commissioner Tan Sri Azam Baki confirmed that while a formal statement from the Tan Sri has yet to be recorded, preparations are underway now that his health has stabilised. Medical verification was obtained before plans for the interview resumed.
The investigation has uncovered a suspected misappropriation of sukuk bonds, with funds believed to have financed not only property and luxury items but also gambling activities estimated at RM20m.
Good to know: Sukuk are Shariah-compliant bonds often used to fund infrastructure development, misusing such funds carries both legal and reputational consequences
Azam noted that 45 other witnesses have been interviewed in connection with the case, with some recalled for further clarification. He added that while the Tan Sri is a key figure in the probe, authorities have gathered substantial material through other testimonies.
In June last year, the MACC announced the seizure of assets worth approximately RM143m, including RM37.5m from bank accounts, luxury real estate, jewellery, watches, vehicles and horses. Additional seizures included RM3m in alcohol and over RM15m in foreign holdings. Asset declaration notices have been issued to the Tan Sri and several associated parties.
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