KUALA LUMPUR, Sept 29 – A former senior corporate executive will be charged in court on Thursday, October 1, in connection with an investigation by the Malaysian Anti-Corruption Commission (MACC) into financial losses incurred by UiTM Holdings Sdn Bhd.
The investigation involves alleged abuse of power relating to operational expense payments totaling approximately RM42 million made to several companies in which the suspect is believed to have held an interest.
According to an MACC statement, the male suspect in his 50s was arrested at approximately 1:00 PM on Monday at his residence in the Klang Valley.
Preliminary investigations revealed that the suspect allegedly committed the offenses in 2017 by authorizing operational expense payments without proper board authorization to entities connected to him.
The arrest forms part of an ongoing probe into heavy financial losses reported by UiTM Holdings in 2023.
MACC Chief Commissioner Datuk Seri Abd Halim Aman confirmed the detention and stated that the case is being investigated under Section 23 of the MACC Act 2009, which covers offences related to using an office or position for gratification.
–NMT
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