KUALA LUMPUR, May 21 — The Malaysian Anti-Corruption Commission (MACC) is in the midst of acquiring several documents related to stock trading and the sale of shares involving a listed company.
This is following the commission’s investigation into two prominent national figures including a former minister in connection with the alleged embezzlement of state funds worth more than RM2.3 billion.
According to a source, the MACC is in the process of obtaining the documents from several nominees, banks, major companies, developers, and the Securities Commission (SC) for analysis.
In addition to obtaining financial transactions related to the ownership and sale of shares, the MACC is also believed to be summoning two public figures in the near future to complete the investigation.
“Apart from them, the MACC has also called on representatives from companies, lawyers, and auditors to obtain the necessary documents,” the source told Utusan Malaysia.
In 2012, the business figure who is also the former executive chairman of a listed company filed a lawsuit against several nominees including the government to reclaim more than RM1.8 billion in compensation for selling his interest in the listed company.
In the statement of claim, the businessman claimed to own 372,000,000 shares amounting to almost 16 per cent of the issued and paid-up capital in the listed company, making him the largest individual shareholder in 2001.
In November 2002, the listed company held a large stake in the issued and paid-up capital of a national giant.
It was reported that the business figure claimed that he was persuaded by a nominee as a representative of the government to accept the offer and release the listed company.
He then demanded RM1.3 billion in general damages for the violation of the ownership of the listed company as well as RM508 million for the value of the paid-up capital to settle the losses he suffered to save another listed company.
Utusan Malaysia yesterday reported that two prominent figures including a former senior minister were summoned by the MACC a few weeks ago regarding the alleged embezzlement of national funds worth more than RM2.3 billion.
In addition to the two individuals concerned, another business tycoon will also be called in by the MACC tomorrow to assist the investigation.
Sources have revealed that the MACC is currently in the phase of conducting a financial analysis of the ownership of valuable assets that have been identified by the commission, owned by the businessman with the title of Tan Sri, and former senior ministers and their family members, with an estimated worth up to billions, found locally and abroad.
The investigation is a continuation and addition to the disclosure of confidential documents made by the International Consortium of Investigative Journalists (ICIJ) regarding suspicious transactions in several offshore financial centres.
The focus of MACC’s investigation into these irregularities is in relation to the purchase and ownership of shares in a listed company by a national giant that is said to have been orchestrated by the former senior minister.
It is also understood that this transaction of purchase and ownership of shares is believed to be the cause of the decline of the national economy and the fall of the ringgit currency in the late 1990s and was misappropriated for the benefit of the individuals involved to be rescued from experiencing worse losses.
Therefore, the investigation paper was opened under the MACC Act 2009 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds from Illegal Activities Act (AMLATFPUAA) 2001.
Meanwhile, MACC chief commissioner Tan Sri Azam Baki has insisted that the investigation and the case be investigated in accordance with Section 23 of the MACC Act 2009 regarding the offence of misuse of power to obtain bribes and the offence of money laundering under Section 4 (1) of the AMLATFPUAA 2001.
Source: Malay Mail