Felcra Applied To Use Rm150 Mil From Retirement Fund To Buy Unit Trusts Court Told

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Bung Moktar and his wife, actress Zizie Ezette A Samad, face charges of receiving bribes from two Public Mutual unit trust investment agents.KUALA LUMPUR: A witness told the Sessions Court here today that the Federal Land Consolidation and Rehabilitation Authority (Felcra) had applied to the finance ministry (MoF) to use RM150 million from Felcra’s employees retirement fund to invest in Public Mutual unit trust products
Former Felcra Investment general manager Adnan Yusof, 60, said the application was based on a memo issued by MoF’s representative to Felcra
“The application needs to be made, but whether it will be approved or not is the prerogative of the MoF,” he said during the examination-in-chief by deputy public prosecutor Roslan Mat Nor on the third day of the corruption case trial of Bung Moktar and his wife, actress Zizie Ezette A Samad
When asked by Roslan on whether there were any minutes of meetings showing that the Felcra board of directors was involved in any action related to the RM150 million investment, Adnan said: “It was not stated here.”On Jan 2, Bung, represented by lawyer M Athimulan, had maintained his not guilty plea to three charges of corruption
According to the first charge, Bung, who was at that time the non-executive chairman of Felcra, was charged with taking a bribe of RM2.2 million from Public Mutual investment agent Madhi Abdul Hamid, 38, through his wife, Zizie Ezette
Adnan Yusof.He was accused of committing the offence as an inducement to obtain approval from the second finance minister for Felcra to invest RM150 million in Public Mutual unit trust products
The offence was allegedly carried out at the Taman Melawati branch of Public Bank Berhad at No 262-265, Jalan Bandar 12, Taman Melawati, here between 12.30pm and 5pm on June 12, 2015
As for the second charge, Bung was charged with receiving RM262,500 in bribes for himself from the same individual, Madhi, through Public Islamic Treasures Growth Fund (PITGF) account number 044797816, registered under Zizie’s name for the same purpose
Bung was accused of obtaining a RM337,500 bribe from Public Mutual investment agent Norhaili Ahmad Mokhtar, 42, via Public Ittikal Sequel Fund (PITSEQ) account number 044797824, registered under Zizie’s name for the same purpose
Both offences were allegedly committed at the same location at 12.16pm and 12.28pm on June 19, 2015
All the charges were made under Subsection 17(a) of the MACC Act, with punishment under Section 24 (1) of the same act. This provides for a jail term not exceeding 20 years and a fine not less than five times of the bribe amount or RM10,000, whichever is higher, upon conviction
Zizie also pleaded not guilty to the three charges of abetting her husband on the same matter at the same place, dates and time under Section 28(1) (c ) of the MACC Act
She can be punished under Subsection 24 (1) of the same act, which carries a prison term of not more than 20 years, and a fine of not less than five times the bribe or RM10,000, whichever is higher, if found guilty
The trial before judge Rozina Ayob continues on Jan 29. - FMT

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