They were suspected to have received S$3,168.366.00, or approximately RM8 million, as commissions for approving the RM400 million loan for a project that was said to be non-existent.
MACC detains four including former bank president cum MD for suspected graft
PUTRAJAYA (March 31): The Malaysian Anti-Corruption Commission (MACC) today detained four people, including a former bank president cum managing director who carries the honorific title of Datuk, over suspected graft in approving a RM400 million loan to a company.
All of them, between the ages of 49 and 53, were arrested around the Kuala Lumpur area yesterday afternoon. They were all given a three-day remand order by the Magistrates’ Court here.
According to a source, all of them were detained as they were suspected to have received S$3,168.366.00, or approximately RM8 million, as commissions for approving the RM400 million loan for a project that was said to be non-existent.
It is understood that the approval was given through the “inside people” of the bank for a non-existent project in order for the firm to get the money. After the money was disbursed to the company, the firm closed and the project did not commence.
“The former president, who was also the MD (managing director), was said to have given the privilege of approving the loan without following the procedures and did not perform due diligence as a result of the kickbacks allegedly paid out,” said the source.
MACC chief commissioner Datuk Seri Azam Baki, when contacted, confirmed their detention and said they are being investigated under Section 16 of the MACC Act 2009 for allegedly receiving gratification.
All of them are being remanded until April 2 under Section 117 of the Criminal Procedure Code.
Rasuah RM8 juta: Dato’ Zafer Bekas Presiden Bank Pembangunan ditahan SPRM*
Dato’ Zafer dan 3 lagi rakannya ditahan kerana rasuah SGD3,168.366.00 atau RM8 juta sebagai komisyen luluskan pinjaman RM400 juta projek yang tidak wujud.