MACC arrests CEO over probe into RM92.5bil economic stimulus packages

PETALING JAYA: Graft busters have arrested a CEO of a private company whom they believe acted as a middleman for the distribution of economic stimulus packages from 2020 to 2022.

Sources said that the 42-year-old man was arrested at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya after giving his statement on Thursday (Jan 5) night.

The suspect also allegedly took bribes to connect contractors to higher-ups.

Previously, the MACC had said in a statement that investigations were focused on the RM92.5bil under the stimulus and economic recovery packages.

Investigation papers have been opened on at least five people believed to be masterminds or middlemen for several companies that had obtained projects ranging from RM50mil to RM500mil via direct negotiations.

Sources added that 90% of the projects obtained via direct negotiations had not been executed as no acceptance letters were issued.

Investigations will be focused on the remaining 10%.

The suspect has been remanded until Jan 10.

MACC chief commissioner Tan Sri Azam Baki confirmed the arrest, adding that investigations are being conducted under Section 16(a) of the MACC Act 2009, which provides imprisonment for up to 20 years and a fine of up to five times the amount of the bribe, or RM10,000, whichever is higher, upon conviction.