How much misappropriated funds are being investigated in the Scorpene deal?

Question

Accepted Answer

RM42 Million in Misappropriated Funds Under Investigation in Scorpene Deal

The Malaysian Anti-Corruption Commission (MACC) is investigating the misappropriation of RM42 million in connection with the Scorpene submarine deal. These funds are understood to be part of a larger RM530 million allocated for support services related to the submarine purchase.
Suspected Recipients of Misappropriated Funds

The investigation centres on four companies that are reportedly owned by the family members of a particular company owner. These entities are suspected of having received the RM42 million in question, which is alleged to have been misappropriated.
Scope of the MACC Investigation

The MACC's renewed focus on the Scorpene submarine purchase stems from new leads and documents obtained from international parties. The investigation aims to determine if there was any breach of trust or abuse of power in the procurement process, particularly concerning payments made by a local company involved.
Background of the Scorpene Submarine Purchase

The acquisition of the Scorpene submarines from a French company, DCN (now part of Thales), has been a subject of controversy. The deal, which involved the purchase of two Scorpene submarines and one Agosta submarine for nearly US$1.17 billion (RM5.4 billion), was overseen by former prime minister Datuk Seri Najib Razak when he also served as defence minister in 2002.

Reading history

Hide →

This history is cleared when the page is closed.

How much misappropriated funds are being investigated in the Scorpene deal?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends