HEADLINES

CEO faces MACC remand over alleged RM270,000 fund misappropriation

Man in his 60s accused of diverting funds for personal expenses, instructing irregular salary payments

5:49 PM MYT

 

KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) today remanded a professor who is the chief executive officer of a higher education company suspected of syphoning off company funds amounting to RM270,000. 

According to a source, the man in his 60s was detained at 7pm yesterday when he arrived to give his statement at the MACC head office.

According to the source, the suspect was brought to Putrajaya magistrates’ court this morning, where magistrate Irza Zulaikha Rohanuddin issued a seven-day remand order until July 30.

“Preliminary investigations found that the suspect is believed to have used money worth about RM270,000 for personal use, including paying debts and buying cars and other personal expenses.

“The suspect is also accused of instructing the company’s staff to prepare a letter for salary payments amounting to approximately RM12,000 per month from March 2023, while the suspect’s appointment letter as CEO only entitles him to receive 5% of the company’s annual profit,” he said.

Meanwhile, MACC senior director of investigations Datuk Seri Hishamuddin Hashim, when contacted, confirmed the arrest and said the case is being investigated under the MACC Act 2009. – July 24, 2024

Topics

 

Popular

3 senior Telekom Malaysia officers charged in US over US$20m embezzlement scheme

US prosecutors expose a sophisticated, multi-year insider scam at TM’s US subsidiary involving data capacity manipulation, phantom employees, and the use of AI-assisted tools to siphon millions

Solat Jumaat di pusat beli-belah: Zulkifli galak negeri lain turut serta

Menteri Agama Dr Zulkifli Hasan mengalu‑alukan negeri lain mencontohi Wilayah Persekutuan yang sudah mula laksana solat Jumaat di pusat beli‑belah, sambil merancang perluasan ke terminal, lapangan terbang dan R&R lebuh raya

Jana Wibawa: Muhyiddin’s trial continues as appeals court rejects bid to reinstate acquittal

Five-judge panel dismisses Bersatu president’s application to review findings which led to four charges related to RM232.5 mil in bribes being reinstated in Feb

Related