MACC: RM32 Million Seized From ‘Tan Sri’ Over Expressway Scandal

The Malaysian Anti-Corruption Commission (MACC) has seized assets worth RM32 Million from a highway concessionaire with the title ‘Tan Sri’ following an investigation into the alleged misuse of sukuk funds meant for highway construction in the Klang Valley.

According to a source, MACC officers searched two of the individual’s residences in Kuala Lumpur and confiscated 217 luxury watches valued at around RM5 Million, 27 designer handbags worth over RM1 Million, and jewellery estimated to be worth RM4 Million.

They also seized nine luxury vehicles, including brands such as Bentley, Mercedes-Benz, and Range Rover, with a total value close to RM7 Million.

In another property, the MACC discovered a collection of luxury liquor believed to be linked to money laundering, estimated to be worth RM3 Million. The operation also led to the seizure of a luxury home in the KL city centre, valued at around RM12 Million.

All the assets were confiscated under the MACC Act 2009 and the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 for further investigation.

Free Malaysia Today (FMT) also reported last week where MACC chief commissioner Azam Baki noted that the agency was investigating three cases of alleged bribery and false claims connected to the Maju Expressway extension.

He said the first investigation paper involved false claims amounting to RM361 Million, which came from sukuk funds, while the second case was related to false disclosures involving RM416 Million in sukuk funds and RM50 Million in bank loans.

Additionally, as per our previous report it is understood that the MEX II project was financed by RM1.3 Billion in debt raised in 2016 by Maju Group. However, nearly a decade later, only RM30 Million remains with RM29 Million already pledged to banks - and the highway remains unfinished.

Meanwhile the Works Minister Datuk Seri Alexander Nanta Linggi confirmed recently that his ministry will collaborate closely with relevant stakeholders to address the project’s persistent delays.

Source: BERNAMA