KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) has identified a member of IJM Corporation Bhd’s top management who holds a Tan Sri title, along with a company adviser, as persons of interest in its probe into allegations of a RM2.5 billion money laundering scheme.
An internal source said the commission is currently gathering more information related to the allegations against the company before opening a formal investigation.
"The investigation team is in the process of collecting additional details to ascertain the veracity of the claims prior to commencing an official probe,” the source told Bernama.
Earlier, the United Kingdom’s Serious Fraud Office (SFO) was reported to have launched an investigation into alleged money laundering and corruption involving multi-billion-ringgit investment transactions linked to the two individuals.
It is understood that both individuals are currently overseas and MACC is also examining allegations of share price manipulation.
The source said the alleged manipulation is believed to have taken place when Sunway Group was in the process of acquiring IJM through a transaction valued at RM11 billion.
Previously, it was reported that the proposed merger between the two companies was expected to reshape Malaysia’s property and construction sectors, potentially prompting developers and contractors to enhance their strategies and competitiveness.
Meanwhile, MACC Chief Commissioner Tan Sri Azam Baki, when contacted, confirmed that an investigation into IJM is under way and that further details will be disclosed from time to time. - BERNAMA