Translate

13 November 2017

Felda will be taking legal action against those responsible for the investment scandal pending the investigations

'Legal Action Will Be Taken Against Those Responsible For Felda Investment Scandal'

KUALA LUMPUR: Felda will be taking legal action against those responsible for the investment scandal pending the investigations on them.
Revealing this, Deputy Minister in the Prime Minister's Department Datuk Razali Ibrahim (pix) said the Malaysian Anti-Corruption Commission (MACC) had started its investigations on the employees concerned.
He said the Attorney-General's Chambers (AGC) had initiated criminal proceedings against those identified for criminal breach of trust.
"Felda is in the process of filing civil summonses against the relevant parties. As for foreign investments, the prosecutor has filed summonses for abuse of power and full trials will be conducted in court," he said, in a parliamentary written reply dated Nov 7.
However, Razali did not elaborate on the action to file the civil suits.
He was responding to Fong Kui Lun, who had asked the prime minister on the status of the investment scandal in Felda and its subsidiary.
Fong had also asked why there have been no prosecution on those who caused hefty losses in Felda and to state the measures taken to regain investor confidence.
Razali said the public prosecutor has also filed a suit in relation to foreign investment and the case has completed a full trial in court.
Felda Investment Corporation (FIC), a Felda subsidiary, had come under public scrutinity after MACC launched its investigation in relation to its overpaid four-star hotel in London.
Felda had reportedly purchased the hotel for at least RM112 million above its market value, causing it to suffer millions in losses.
- theSun

Popular Posts - Last 7 days

Popular Posts - Last 30 days

Blog Archive

LIVE VISITOR TRAFFIC FEED