HEADLINES

MACC nabs Melaka council finance director over alleged RM50mil share investment abuse

Suspect accused of using public and trust funds without authorisation

10:04 PM MYT

 

KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) has arrested a municipal council finance director in Melaka over suspicions of power abuse involving share investments worth approximately RM50 million.

According to the NST, the man in his 50s was detained at around 1pm today when he presented himself at the MACC office in Melaka to provide a statement.

“The suspect is believed to have committed the offence between 2020 and 2023 by appointing his wife, who works at a bank, as the investment agent for share investments amounting to approximately RM50 million.

“Initial investigations also found that the suspect is believed to have used public funds and trust funds without the approval of the authorised financial officer,” a source told the daily.

Melaka MACC director Adi Supian Shafie confirmed the arrest, stating that the case is being investigated under Section 23 of the MACC Act 2009.

He added that the suspect is expected to be brought before the Ayer Keroh Magistrates’ Court tomorrow for a remand application. – June 16, 2025

Topics

 

Popular

Petronas staff to be shown the door to make up losses from Petros deal?

Source claims national O&G firm is expected to see 30% revenue loss once agreed formula for natural gas distribution in Sarawak is implemented

Duck and cover? FashionValet bought Vivy’s 30 Maple for RM95 mil in 2018

Purchase of Duck's holding company which appears to be owned wholly by Datin Vivy Yusof and husband Datuk Fadzarudin Shah Anuar was made same year GLICs invested RM47 mil

InDrive faces termination for flouting guidelines

It is the second Russian e-hailing app after Maxim to face ban by Land Public Transport Agency

Related