KUCHING: Police are investigating three former office-bearers of a Sarawak cooperative for alleged embezzlement of federal funds.
Bukit Aman IGP secretariat Anti-Money Laundering division chief Senior Asst Comm Datuk Khalil Azlan Chik said the former chairman, secretary and treasurer of Koperasi Automobil Kuching Sarawak Bhd (Kokas) were being probed for criminal breach of trust under Section 409 of the Penal Code.
He said they were suspected to have misused RM3.4mil of the cooperative’s funds between 2012 and December 2017.
“The funds were meant to be used to carry out automotive workshop modernisation and retail shop transformation programmes in Sarawak. Instead, it was used for other purposes, ” he told a press conference yesterday.
SAC Khalil said 57 other individuals and eight entities linked with the suspects were also being investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amlatfpuaa) in connection with the case.
On Aug 22, police raided six premises around Kuching belonging to the suspects. They have frozen bank accounts and seized assets worth a total RM6.2mil so far.
The seized assets included 16 vehicles worth a total RM763,000, land and property worth RM2.4mil and luxury items and cash worth RM90,650.
“We also froze 71 bank accounts totalling RM2.95mil, ” SAC Khalil said.
He said police were continuing to trace the money and investigate the seized and frozen assets under Section 4(1) of Amlatfpuaa.