Malaysian anti-corruption officers discovered RM20 million from a sukuk raised for a Klang Valley highway was used for gambling, based on several news reports. MACC chief commissioner Tan Sri Azam Baki, as quoted by Berita Harian, shared that investigators found more investments possibly related to illegal business involving a noted “Tan Sri.”
MACC Investigates Overseas Assets and Freezes RM85.6 Million
Azam stated the commission is tracking assets, including those outside Malaysia, which appear to be bought through the use of misused sukuk capital. Records show MACC has interviewed 45 witnesses; Azam explained to New Straits Times that the Tan Sri has not given a statement yet since he stays admitted in a private hospital.
The national news agency Bernama, on May 31, reported MACC seized and froze assets and bank accounts valued at RM85.6 million, all tied to a probe into sukuk fund abuse in the Klang Valley highway venture. MACC also took control of personal and business bank accounts, along with expensive vehicles, luxury handbags, jewellery, branded watches, and real estate properties.
Tan Sri Contractor Suspected of Diverting Project Funds
Azam told Bernama that investigators suspect hundreds of millions from sukuk were transferred to the contractor’s firm, led by Tan Sri, and then were used for own benefit instead of the highway project.
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