MACC detains two persons relating to Felda’s London hotel

Syndicated News
Written by Syndicated News

KUALA LUMPUR — July 21, 2017: The Malaysian Anti-Corruption Commission (MACC) today detained two persons for suspected involvement in the purchase of a London hotel by the Felda Investment Corporation (FIC).

They were detained at the MACC office after they went there for an investigation session over the purchase of the four-star hotel in Kensington between 2013 and 2015.

“(The two) arrested were the director of a 45-year-old asset management consultancy company and the property unit head of a postal service company,” said an MACC statement.

When the hotel was purchased, they were the chief corporate adviser and director of the Raine and Horne company.

They are suspected of having manipulated the price of the hotel to the point where the FIC overpaid by tens of millions of ringgit.

As of today, investigators have recorded statements from 11 witnesses. Following today’s arrests, the MACC does not rule out the possibility that more will be summoned.

MACC deputy chief commissioner (operations) Datuk Azam Baki confirmed the arrests. Both are expected to be brought to court tomorrow for a remand application.



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