PUTRAJAYA - The Malaysian Anti-Corruption Commission (MACC) has arrested the chairman of IJM Corporation Berhad in connection with an investigation involving corporate governance issues, procurement processes, financial transactions and overseas asset ownership estimated to be worth about RM2.5 billion.
According to a source, the male suspect, believed to be in his 70s, was detained at about 7pm on Thursday at the MACC headquarters here after a search was conducted at his residence.
"MACC carried out inspections and searches at three additional locations, namely a fund management and investment institution, an investment bank, as well as the suspect’s residence.
"Preliminary investigations found that the investment bank had been appointed to manage the takeover bid process for IJM Corporation Berhad, including regulatory dealings with a self-funded statutory body," the source said.
On Jan 19, MACC’s Special Operations Division launched investigations into the suspect over matters related to corporate governance, procurement procedures, financial transactions and overseas asset ownership amounting to RM2.5 billion, involving potential offences under relevant laws.
As part of the probe, MACC has frozen 70 personal and corporate bank accounts linked to the case, involving a total sum of about RM30.6 million.
The source added that investigations were also focused on tracing and seizing other assets suspected to have been acquired through money laundering activities. So far, 15 witnesses, including the suspect’s wife, have been called to have their statements recorded.
Meanwhile, MACC Senior Director of the Special Operations Division Datuk Mohamad Zamri Zainul Abidin confirmed the matter when contacted.
"The investigation focuses on offences under Section 16 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).
"The suspect was released within 24 hours after his statement was recorded, as he is also experiencing health issues," he said.