Ex-Citadel Trustee Berhad CEO Charged with Receiving RM1.56 Mil Kickback for RM100 Mil Loan Approval

SHAH ALAM, Oct 16 – The former Chief Executive Officer of private trust management firm Citadel Trustee Berhad, Amir Mokhtar, has claimed trial at the Shah Alam Sessions Court to 23 counts of corruption involving the receipt of RM1.56 million in kickbacks. The 45-year-old accused pleaded not guilty to all charges before Sessions Court Judge Nasir Nordin.

According to the prosecution, the illicit funds were deposited into Amir’s personal bank account between June 3 and June 30, 2022, at a financial institution branch located in Seksyen 14, Shah Alam. The payments from KMDI Harta Bhd—which has since officially changed its name to Muhibah Aset Berhad—were allegedly an inducement for approving a RM100 million loan. Amir was charged under Section 16(a)(A) of the Malaysian Anti-Corruption Commission (MACC) Act 2009, which carries a maximum penalty of 20 years’ imprisonment and a fine of not less than five times the bribe value—amounting to roughly RM7.8 million—upon conviction.

Judge Nasir granted the accused bail of RM70,000 with one surety. As part of the bail conditions, Amir was ordered to surrender his international passport to the court and report to the nearest MACC office once a month until the case is resolved. The court set November 13 for case management. Deputy Public Prosecutor Muaz Ahmad Khairuddin represented the prosecution, while counsel Syed Azimal Amir Syed Abu Bakar appeared for the defense.

The alleged kickbacks occurred shortly after a formal business arrangement was established between the two entities. In April 2022, KMDI Harta Bhd had publicly announced the appointment of Citadel Trustee Berhad as its trustee to raise RM400 million in operating capital aimed at expanding its project pipeline and paving the way for a future listing on Bursa Malaysia.

Corporate records from the Companies Commission of Malaysia (SSM) reveal that KMDI Harta Bhd subsequently changed its corporate name to Muhibah Aset Berhad on December 24, 2024.

–NMT