To help in the investigation on whether Felda Investment Corp (FIC) overpaid when it acquired a hotel in London, a former Chief Executive of the firm has been arrested on Monday night, reported The Star and Free Malaysia Today.
FIC’s former CEO has been remanded for four days starting on Tuesday (1 August), with permission from Magistrate Nik Isfahanie Tasnim Wan Ab Rahman.
He was apprehended at the headquarters of the Malaysian Anti-Corruption Commission (MACC) in Putrajaya after hours of questioning by the authorities in relation to the case.
Previously, the anti-graft agency raided FIC’s office in Kuala Lumpur on 17 July to gather documents after it launched an investigation on the hotel acquisition by Felda’s investment division.
It is alleged that FIC paid too much when it acquired the four-star hotel in Kensington for £60 million (RM330 million) in December 2014, resulting in losses amounting to millions in ringgit.
On July 22, the MACC arrested and remanded for six days two senior officials at two companies, who were believed to have been involved in the hotel’s valuation. The duo, age 36 and 45, were also apprehended at MACC’s HQ after they gave their statements.
Image sourced from The Star
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