Macc Proceeds With Asset Forfeiture Of Daim S Uk Properties

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(TS) – The Malaysian Anti-Corruption Commission (MACC) has been authorized to proceed with the forfeiture of assets belonging to the late finance minister Tun Daim Zainuddin, his family, and his proxies in the United Kingdom.
Chief commissioner Tan Sri Azam Baki announced at a press conference that UK counterparts have filed for similar action following Malaysia’s request.
“On June 5, we filed for the restraining order of assets in the United Kingdom worth RM700mil. We informed the authorities there, and yesterday (June 24) we were told they have filed the same to their courts.
“This is a new development where the UK authorities agree with our request in Malaysia, and the process will continue in their courts.
“On the defendant’s side, they have filed for an intervention, and the courts have set the date of July 9 for case management while the restraining order application remains,” he said.
Azam added that MACC will soon file applications for the forfeiture of Menara Ilham, and within a week or two, they will pursue the forfeiture of assets within the country.
Media reports on June 3 mentioned that three luxury homes in London were among the seven properties and one bank account allegedly belonging to Na’imah and her family, involving a total value of £132mil (RM758.2mil), which were frozen by the MACC.
MACC investigations revealed that the movable and immovable assets were linked to alleged offences under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.
Ilham Tower, owned by Daim’s family, was first seized by MACC in December 2023 during its anti-money laundering probe involving a corporate transaction of RM2.3bil (US$500mil) in November 1997, involving public-listed Renong Bhd and United Engineers Malaysia Bhd (UEM), both linked to Umno.
Source : TheStar
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