PUTRAJAYA, Feb 6 — The chairman of IJM Corporation Bhd was arrested to assist investigations into corporate governance issues, procurement processes, financial transactions and ownership of overseas assets estimated to be worth about RM2.5 billion.
The Malaysian Anti-Corruption Commission (MACC) said the man, in his 70s, was arrested at 7pm yesterday at the MACC headquarters here after inspections and searches were conducted at his residence.
“MACC has conducted inspections and searches at three additional locations, namely a fund management and investment institution, an investment bank and the suspect’s residence.
“Preliminary investigations found that the investment bank had been appointed to manage the takeover bid process involving IJM Corporation Bhd, including regulatory matters with a self-funded statutory body,” it said in a statement today.
On January 19, the MACC Special Operations Division (BOK) initiated investigations into the suspect over allegations related to corporate governance, procurement processes, financial transactions and the ownership of overseas assets amounting to RM2.5 billion, which may involve offences under relevant laws.
Following that, MACC froze 70 personal and company bank accounts linked to the suspect, involving a total of about RM30.6 million.
MACC also said the investigation is focusing on tracing and seizing other assets suspected to have been obtained through money laundering activities, with 15 witnesses, including the suspect’s wife, having been called so far to have their statements recorded.
Meanwhile, BOK senior director Datuk Mohamad Zamri Zainul Abidin said the case is being investigated 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.
He said the suspect was released within 24 hours after his statement was recorded due to health issues.
