RM20mil Sukuk Funds for Klang Valley highway Project Misused For Gambling

A recent investigation by Malaysian Anti-Corruption Commission (MACC) into a prominent figure, known as Tan Sri, revealed the suspected embezzlement of RM20 million from sukuk funds intended for highway construction, with potential links to gaming activities.

The investigation also uncovered several investments that may be connected to illegal operations.

MACC is actively tracing assets, including those located abroad, believed to have been acquired through the misappropriation of these sukuk funds, according to MACC’s Chief Commissioner Tan Sri Azam Baki.


"So far, 45 witnesses have been called and we are still waiting to record the statement of the Tan Sri who is currently understood to be being treated at a private hospital," he says in a BH report.

It was earlier reported by Bernama that MACC officers raided the residence of the Tan Sri family as part of an investigation into alleged fraudulent claims and misuse of loan bond funds allocated for a road construction project in the Klang Valley.

Reports revealed that investigators discovered a ground-floor storage room filled with high-value liquor. The raid also targeted a land plot and six luxury properties, collectively valued at RM12 million.

In addition, MACC uncovered several horses, estimated to be worth hundreds of thousands of ringgit, suspected of being acquired with misappropriated sukuk funds.


Last month, authorities detained four individuals, including a Datuk Seri, for allegedly submitting fraudulent claims amounting to nearly RM360 million. The three men and one woman, aged between fifty and seventy-nine, were detained while providing statements at the MACC office.

The suspects are believed to have utilized sukuk funds between 2016 and 2017 to file approximately RM360 million in false claims related to a highway construction project in the Klang Valley valued at roughly RM1.3 billion.