End of the road: A construction and property development company director, sought by the special taskforce investigating 1MDB funds, has been remanded for four days.
PETALING JAYA: A company director, sought by the special task force probing 1Malaysia Development Bhd (1MDB) funds, has been remanded while more people are expected to be hauled up in the continuing saga of the controversy.
His lawyer Tan Sri Muhammad Shafee Abdullah said the construction and property development company director, 39, had been remanded for “reasons of national interest”.
No grounds were given for his arrest, he said.
“Even the magistrate has refused to give the reasons. The charge was not read (during remand proceedings),” Muhammad Shafee said yesterday.
He added that Malaysian Anti-Corruption Commission (MACC) officials had asked for a seven-day remand from magistrate Lau Eric during court proceedings in Putrajaya yesterday.
“But the magistrate only allowed for four days. He has to be produced before the magistrate for re-mention on Friday,” Muhammad Shafee said.
The man was said to have been sought for investigations under Section 17(a) of the MACC Act for allegedly accepting bribes.
According to the company’s website, he was re-designated to a senior post in the company last year. The construction firm also has a government linked investment fund as a shareholder.
The man, who has experiences in corporate finance, is also said to hold directorships in several private limited companies.
It is believed the task force sought the director to assist in its investigations.
Sources said that the task force detained him at the KL International Airport on Monday when he was supposed to fly to Taiwan.
The task force was set up to investigate into the financial affairs of 1MDB that has debts of RM42bil and is facing cash flow problems.
There has been allegations that a sum of US$1.8bil had been diverted away from 1MDB to foreign and local individuals during a foreign investment undertaken by 1MDB between 2009 and 2011.
Other than MACC, the task force also comprises Bank Negara, the Attorney-General’s Chambers and the police.
It is also tasked with investigating a Wall Street Journal report claiming that a sum of US$700mil had been channelled into the personal accounts of Prime Minister Datuk Seri Najib Tun Razak.
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