Sukuk Funds Graft Cars Horses Booze Diamonds Handbags Seized

---

 



MACC has revealed that it has seized RM143 million in assets linked to the misuse of sukuk funds for the construction of a highway in Klang Valley, believed to be owned by a highway concessionaire with a Tan Sri title.
The seizure was made during an operation conducted last week.
Chief commissioner Azam Baki listed the seizures, which included 14 individual accounts totalling RM4.5 million, eight company accounts totalling RM33 million, a luxury condominium and land worth RM24.5 million, nine cars worth RM7.65 million, and 13 cars that have yet to be handed over to the investigation team.
Other items seized include luxury watches worth RM25 million, handbags worth RM3 million, jewellery and diamonds (RM6 million), four horses (RM400,000), alcoholic beverages (RM3 million), foreign assets worth more than RM15 million and around RM20 million in gambling activities.
ADS“Preliminary investigations revealed there was misconduct between 2016 and 2020 of approved sukuk funds of about RM1.35 billion, involving false claims of about RM360 million and RM416 million and RM50 million in other bank facility loans.
“The RM1.67 billion highway project also failed to be completed according to schedule, and investigations are focused on bribes worth RM12 million paid to certain parties as inducement in helping the cash flow out and back to the suspect,” he said in a statement last night.
Professional services used
Azam added that the proceeds were also believed to have been used in money laundering activities.
He explained that to embezzle the funds, the parties involved were believed to have used professionals such as auditors, financial experts, engineers and shell companies.
“Until now, the MACC has yet to take the Tan Sri’s statement as he is in a private hospital ward, and today the investigating officer will get confirmation from the doctor on the status of the Tan Sri’s health before recording his statement.
“The number of witness statements stands at 45, and those witnesses who have given their statements have been asked to provide further statements,” he said, adding that the investigating team is also tracking down luxury vehicles and properties belonging to the Tan Sri abroad, including in London and Switzerland.
The investigation is focused on the exact amount of luxury liquor kept by the Tan Sri and the possibility that funds have been transferred to other accounts, he said.
He added that an asset declaration notice has been handed to the Tan Sri and other related parties.
- Bernama

---