What specific abuses of power are alleged in RM370 million share deals?

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Allegations of Abuse of Power in RM370 Million Share Deals Under MACC Investigation

The Malaysian Anti-Corruption Commission (MACC) is investigating allegations of abuse of power concerning the purchase of shares in two plantation companies, with a total value of approximately RM370 million. As part of this inquiry, the MACC has completed recording the statement of a former chief financial officer (CFO) of a company owned by a statutory body. This investigation is linked to findings presented in the Royal Commission of Inquiry (RCI) report on Lembaga Tabung Haji, and a former chief executive officer has also been detained by the MACC in connection with the matter.
MACC Recording Statements in Tabung Haji Probe

The MACC has concluded its process of recording the statement of a former chief financial officer (CFO) from a company linked to a statutory body. This individual's statement was taken over a four-day period, with the final session concluding recently. The information gathered is intended to provide evidence related to the alleged misuse of power in specific financial transactions.
Focus on RM370 Million Share Purchase

The core of the MACC's investigation centres on the alleged abuse of power during the acquisition of shares in two plantation companies. These transactions amounted to approximately RM370 million. The findings of the Royal Commission of Inquiry (RCI) report on Lembaga Tabung Haji highlighted these share deals, prompting the current probe by the anti-graft agency.
Detention of Former CEO and CFO

In connection with the investigation into the RM370 million share deals, the MACC detained a 60-year-old individual, identified as the former CFO of the statutory body-owned company. The former chief executive officer of the same company was also detained. Both individuals came forward to provide their statements at the MACC headquarters, leading to their detention as part of the ongoing inquiry.

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What specific abuses of power are alleged in RM370 million share deals?

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