The other two individuals are owners of two other companies believed to be involved in the same project.
All the suspects, aged 40 to 57, were arrested at around 4.30pm at the Selangor MACC office when they showed up to provide their statements.
According to sources, the executive used his position as project head to recommend and appoint his proxy as project manager in another company to manage the project on his behalf.
All three suspects will be brought to the Shah Alam Magistrate’s Court for remand application on Tuesday (Oct 26).
Meanwhile, Selangor MACC director Datuk Alias Salim confirmed the arrests when contacted but declined to comment further. - Bernama