MACC CONSIDERING FORFEITING UNDECLARED ASSETS OF LATE TUN DAIM – AZAM BAKI

PUTRAJAYA, May 22 (Bernama) -- The Malaysian Anti-Corruption Commission (MACC) is considering forfeiting undeclared assets belonging to the late former Finance Minister, Tun Daim Zainuddin, estimated to be worth over RM2 billion.

MACC Chief Commissioner Tan Sri Azam Baki said eight investigation papers had been opened based on new information from foreign agencies concerning assets that Daim, his family and proxies owned.

"The latest information indicates assets belonging to the late Tun Daim, his family, and associates were not disclosed to us during the investigation carried out in 2023.

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"If the assets were indeed undeclared, it constitutes an offence under our Act (MACC Act  2009)," he said, adding that the MACC will propose that the assets be forfeited to the government. 

"It will be up to the Deputy Public Prosecutor to decide whether to proceed, but that is the direction we are heading," he told reporters today.

Azam said the commission is communicating with authorities in Switzerland and the United Kingdom to gather evidence on the former minister's assets.

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When asked if the assets include Menara Ilham, which allegedly belongs to Daim's family, Azam said: "You can draw your conclusions, but I can say that there are many assets worth up to RM2 billion."

He said investigators are preparing the investigation papers and summoning witnesses to determine whether the assets were acquired legitimately, adding that they were given two months to complete the probe.

During the press conference, Azam also announced that the MACC has frozen 100 personal bank accounts belonging to a 'Tan Sri', his family members, and companies, with a total value exceeding RM217 million.

He said the MACC had recorded statements from the corporate figure and four individuals, adding that 13 witnesses will be summoned to assist a corruption case involving an investment with an offshore company controlled by two proxies. 

"It involves proceeds from money laundering linked to an investment and a contract with a Brazilian company, routed through several offshore companies controlled by two Malaysian proxies suspected of being involved in corruption," he said.

Azam added that the investigation would take time as it involves getting statements and cooperation from Brazil, Singapore, the Netherlands, and several other countries.

He said the MACC had initiated two investigation papers to trace financial transactions across these countries, culminating with the funds being transferred to Malaysia.

"One investigation paper is under the MACC Act related to corruption, while the second falls under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001," he added.

-- BERNAMA