LHDN investigating those identified in Tabung Haji RCI report
MACC and the police are also probing those linked to the report into TH’s management and operations from 2014 to 2020.
The Inland Revenue Board (LHDN) is investigating individuals identified in a royal commission of inquiry (RCI) examining Tabung Haji's (TH) financial management practices. The probe, based on tax risk analysis, uncovered discrepancies between the reported income and asset ownership of the individuals in question. LHDN carried out raids on several premises to gather information, review documents, and verify facts in its investigation.
The 252-page RCI report, completed in July 2022 but only declassified last Wednesday, revealed that TH had concealed its true financial state for years, reporting a RM3.4 billion profit in 2017 instead of a RM1.4 billion net loss. The commission traced TH's financial troubles to political interference in board appointments, unsustainable hibah payouts, and the national audit department's reluctance to fully disclose its findings due to concerns about depositor confidence.
The Malaysian Anti-Corruption Commission has detained five individuals related to the RCI report, and the Commercial Crime Investigation Department of Bukit Aman has opened five investigation papers into alleged commercial offenses uncovered in the report. These papers have been filed under the Penal Code, Tabung Haji Act, Companies Act, and Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
