RM16 million recovered, suspect repatriated in 1MDB, SRC International cases
PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) successfully recovered RM16 million and brought back a suspect in the 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd (SRC) investigations recently.
A MACC source said the repatriation of the suspects from Singapore was a result of the close cooperation between it and Singapore’s Commercial Affairs Department.
He said this latest success came when an individual, who is under MACC investigation on suspicion of receiving money from 1MDB and SRC funds arrived at Kuala Lumpur International Airport Terminal 2 on Wednesday at 3.30am.
“Upon arriving, the suspect who has been missing since 2018 was handed a Notice of Order to appear at the MACC headquarters at 10am yesterday (Thursday). His statement was recorded by MACC officers before they searched his house, the same day,” he said.
The source said checks showed that the suspect received money from the misappropriated 1MDB and SRC funds through a company bank account, registered under Wright Shaw Ltd.
“Prior to this MACC was in collaboration with Singapore’s Commercial Affairs Departments which successfully seized the account belonging to Wright Shaw with approximately US$5.2 million.
“Investigations there also proved that the suspect had received money from the 1MDB funds through a Yayasan Rakyat 1Malaysia (YR1M).”
The source said, on April 26, MACC managed to retrieve an estimated RM16 million from a company known as Totality Ltd owned by 1MDB’s former executive director of business development, Tang Keng Chee.
“Tang Keng Chee, or Casey Tang ,was the executive director of business development of 1MDB from 2012 to 2013.
“Prior to that he was involved in with Terengganu Investment Authority (TIA, which was what 1MDB was know as) until 2011.
“The conspiracy was to mislead the bank and hide certain facts from the board of directors of 1MDB to transfer US$700 million to Good Star Ltd, allegedly owned by Low Taek Jho (Jho Low),” said the source.
He added that the MACC had also issued an arrest warrant (Interpol Red Notice) dated June 29, 2018 against Tang, who still cannot be traced.
Tang is believed to have disappeared after he was found to have committed an offence under Section 23 of the MACC Act 2009 and Section 28 of the same act in 2018.
Meanwhile, MACC chief commissioner, Tan Sri Azam Baki confirmed the success and said that MACC is now trying to bring back some more assets from the individuals in Singapore.
MACC has so far managed to recover approximately 70 per cent of 1MDB’s assets, involving a total of RM28.3 billion. NST
Jho Low’s aide repatriated to Malaysia over misappropriation of 1MDB, SRC funds
KUALA LUMPUR: One of Low Taek Jho’s aides who was suspected of receiving money misappropriated from 1Malaysia Development Berhad (1MDB) and SRC International Sdn Bhd (SRC) funds has been repatriated.
The move was a result of cooperation between the Malaysian Anti-Corruption Commission (MACC) with law enforcement agencies from abroad.
Sources revealed that the individual arrived at Kuala Lumpur International Airport 2 (KLIA2) at 3.30am on May 3.
“Upon arriving at KLIA2, the individual who had been missing since 2018, was then handed a notice ordering him to appear at the MACC headquarters at Putrajaya at 10am on Thursday (May 4).
“MACC officers recorded his statement and his house was searched on the same day,” the source said.
The source also revealed that the individual was believed to have received money from the misappropriation of 1MDB and SRC funds through the bank account of a company known as Wright Shaw Limited.
Previously, the MACC in collaboration with Singapore’s Commercial Affairs Departments (CAD Singapore) had successfully seized the bank account belonging to Wright Shaw Limited amounting to approximately US$5.2mil.
“The investigation also proved that he had received money from the misappropriation of 1MDB funds through Yayasan Rakyat 1Malaysia (YR1M).
“On April 26, 2023, the MACC in collaboration with CAD Singapore successfully brought home an estimated RM16mil from Totality Limited which was owned by 1MDB’s business development executive director,” the source said, adding that this individual was involved with 1MDB, which was then known as Terengganu Investment Authority (TIA), until 2011.
The source said he conspired to mislead the bank and hide certain facts from the board of directors of 1MDB to transfer US$700mil to Good Star Ltd, allegedly owned by Low, also known as Jho Low.
“The MACC had issued an arrest warrant (Red Notice) dated June 29, 2018, against this other individual who still cannot be traced and has disappeared after he was found to have committed an offence under Section 23 of the MACC Act 2009 read together with Section 28 of the same Act,” the source said.
MACC chief commissioner, Tan Sri Azam Baki confirmed the matter and said they are now trying to bring back more assets from the individuals involved in Singapore.
“The MACC has so far managed to recover approximately 70% of 1MDB’s assets worth approximately RM28.3bil,” he said. ANN
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