Ex-CEO held by MACC over US$2.5 mil bribes

The suspect is said to have made the purchase of tablets without the approval of his company’s board of directors, resulting in huge losses

PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has detained a former CEO of a company for accepting bribes amounting to US$2.5 million.

According to a source, the 48-year-old man was arrested yesterday evening after giving his statement at the MACC headquarters in Putrajaya.

“The man is suspected of receiving bribes from a foreign company as a reward for his firm’s purchase of 10,000 mobile computing tablets worth US$5.8 million between 2014 and 2018.

“But the purchase was made in secret without the approval of the board of directors, resulting in huge losses,” the source said, adding that the suspect stashed away the proceeds in Singapore and Hong Kong.

When contacted, MACC deputy commissioner (operations) Ahmad Khusairi Yahaya confirmed the arrest.

The case is being investigated under Section 16 of the MACC Act and the suspect has been remanded for three days to assist in investigations.