IJM Corp Chairman Held by MACC Over Governance and Financial Probe
PUTRAJAYA: The chairman of IJM Corporation Bhd has been detained by the Suruhanjaya Pencegahan Rasuah Malaysia (MACC) to assist in investigations into corporate governance, procurement processes and financial transactions, including overseas assets estimated at RM2.5 billion.
The MACC said the male suspect, believed to be in his 70s, was arrested at about 7pm at its headquarters in Putrajaya following searches conducted at his residence.
In a statement, the commission said inspections were also carried out at three other locations, including a fund management institution, an investment bank and another property linked to the suspect.
Investigation Into Takeover Process
Preliminary findings revealed that an investment bank had been appointed to manage a takeover offer involving IJM Corporation Bhd, including regulatory dealings with a self-funded statutory body.
The MACC’s Special Operations Division began probing the case on Jan 19 over alleged irregularities related to corporate governance, procurement, financial dealings and overseas asset ownership.
The investigation may involve offences under several legal provisions.
Accounts Frozen, Witnesses Questioned
As part of the probe, the MACC has frozen 70 personal and corporate bank accounts linked to the suspect, involving approximately RM30.6 million.
Investigators are also tracing and seizing other assets suspected to be connected to money laundering activities.
So far, 15 witnesses, including the suspect’s wife, have been called to give statements.
Senior Director of the Special Operations Division, Mohamad Zamri Zainul Abidin, confirmed the arrest and said the case is being investigated under Section 16 of the MACC Act 2009 and Section 4(1) of AMLATFPUAA 2001.
He added that the suspect was released within 24 hours after questioning due to health concerns.
-wilayah.com.my
