Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Ex-TH chairman, ex-Treasury sec-gen remanded 7 days

The former Tabung Haji chairman, who is also a politician, was arrested yesterday.

Ex-TH chairman, ex-Treasury sec-gen remanded 7 days

Two prominent figures, a former Tabung Haji (TH) chairman and a past Treasury secretary-general, have been detained for seven days amid corruption probes. The Malaysian Anti-Corruption Commission (MACC) granted additional four-day custody to a former TH chief executive officer, who had previously spent seven days under arrest. The trio appeared at the Putrajaya court complex at 9:30am for their remand hearings.

The ex-chairman and ex-finance ministry secretary-general, both in their sixties, were apprehended at MACC headquarters in Putrajaya around 4pm the previous day. MACC chief commissioner Abd Halim Aman revealed that the investigation is underway under Section 23 of the MACC Act, which pertains to the misuse of authority to secure benefits.

The trio are the most recent high-profile arrests in the aftermath of the royal commission of inquiry (RCI) report on TH's management, operations, and assets from 2014 to 2020. The report exposed undisclosed losses from questionable investments and instances of "creative accounting" employed to justify annual profit distributions.

Additionally, the RCI linked TH's financial struggles to political influence in board selections, excessive hibah (charitable) payouts, and the national audit department's decision to water down its findings due to fears of losing depositor confidence.

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.

This story

This is one outlet's version. Read the fullest account.

Read the original at freemalaysiatoday.com →

More in Finance & Markets

Nedgang på Oslo Børs

Aker-aksjen stiger kraftig etter en gigantisk Nscale-kontrakt, mens Grieg Seafood sendes ned etter…

More from Thursday 27 August →