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Tuesday, 1 August 2017

Former CEO of FIC arrested on Monday Night

Former FIC CEO detained over purchase of high-end London property

image: http://www.thestar.com.my/~/media/online/2016/10/16/08/59/macc-new.ashx/?w=620&h=413&crop=1&hash=A5B4E1A1E11F1A132C3E508E7EBA04D5D3AC793B
 
PUTRAJAYA: A former chief executive officer of Felda Investment Corporation Sdn Bhd (FIC) was arrested on Monday night after hours of questioning at the Malaysian Anti-Corruption Commission (MACC) headquarters here.  
He was detained to allow investigations into FIC's purchase of a high-end property in Kensington, London, between 2013 and 2015, for a total of £60mil (RM330mil).  
His arrest was confirmed by MACC director of investigations Datuk Simi Abdul Ghani.  
The suspect arrived at MACC's premises at about 9.30am Monday. FIC vehicles were seen bringing individuals, believed to be its legal advisers, to the building in the afternoon.  
The suspect will be brought to the Putrajaya Court on Tuesday to be remanded.  
Two senior management employees of two companies were arrested on July 22 and remanded for six days by MACC to assist investigations into the purchase of the four-star hotel.  
They were arrested at the MACC headquarters after giving their statements.  
Bernama reported that the two, aged 36 and 45, were suspected of being involved in the price and property evaluation of the hotel.  
It is believed that FIC, the investment arm of Felda, had paid more than the actual market value of the property, causing it to suffer millions of ringgit in losses.  


Read more at http://www.thestar.com.my/news/nation/2017/07/31/former-fic-ceo-detained-over-purchase-of-highend-london-property/#4AViFc4cb8BdRL8U.99

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