Ex-senior officer held over alleged RM42mil UiTM Holdings payments
KUALA LUMPUR: The Malaysian Anti-Corruption Commission yesterday detained a former senior management officer of a corporation over the alleged misuse of position involving operating expenditure payments worth RM42 million.
Malaysian Anti-Corruption Commission (MACC) detained a former senior executive yesterday over alleged misuse of position linked to RM42 million in payments made by UiTM Holdings. The arrest occurred at the individual's residence in the Klang Valley in the afternoon. Preliminary investigations indicated that the suspect had abused his position in 2017 to approve or make operational payments to several companies.
The suspect, in his 50s, had personal interests in the recipient companies, accounting for millions of ringgit in funds. The MACC chief commissioner, Datuk Seri Abd Halim Aman, confirmed the arrest and stated that an investigation was underway under Section 23 of the MACC Act 2009, which pertains to using office or position for gratification.
The suspect is expected to face charges at court this Thursday. UiTM Holdings, a wholly-owned investment arm of Universiti Teknologi Mara (UiTM), faced public scrutiny in early 2023 due to substantial losses reported over four consecutive years, prompting the MACC to investigate financial documents, investment transactions, and the company's corporate profile for potential leaks, misappropriation, or abuse of power by senior management.
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