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CEO faces MACC remand over alleged RM270,000 fund misappropriation | Scoop

16:9 template - 1 — Following his arrest, the suspect was brought before the Putrajaya magistrates' court, where he was issued a seven-day remand order until July 30. – MACC pic, July 24, 2024

CEO faces MACC remand over alleged RM270,000 fund misappropriation

Man in his 60s accused of diverting funds for personal expenses, instructing irregular salary payments

Updated 24 July, 2024

24 July, 2024

5:49 PM MYT

KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) today remanded a professor who is the chief executive officer of a higher education company suspected of syphoning off company funds amounting to RM270,000.

According to a source, the man in his 60s was detained at 7pm yesterday when he arrived to give his statement at the MACC head office.

According to the source, the suspect was brought to Putrajaya magistrates’ court this morning, where magistrate Irza Zulaikha Rohanuddin issued a seven-day remand order until July 30.

“Preliminary investigations found that the suspect is believed to have used money worth about RM270,000 for personal use, including paying debts and buying cars and other personal expenses.

“The suspect is also accused of instructing the company’s staff to prepare a letter for salary payments amounting to approximately RM12,000 per month from March 2023, while the suspect’s appointment letter as CEO only entitles him to receive 5% of the company’s annual profit,” he said.

Meanwhile, MACC senior director of investigations Datuk Seri Hishamuddin Hashim, when contacted, confirmed the arrest and said the case is being investigated under the MACC Act 2009. – July 24, 2024

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