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1MDB task force nabs another top exec
Published:  Jul 25, 2015 3:00 AM
Updated: 6:22 PM

The managing director of a company linked to 1MDB has been remanded for four days to assist investigations by the multi-agency task force probing 1MDB.

The suspect was arrested in Kuala Lumpur yesterday under Section 17(a) of the Malaysian Anti-Corruption Commission Act 2009.

Section 17(a) relates to offences of "giving or accepting gratification by agent".

According to sources, the suspect bears the 'datuk' title and is 48 years' old.

The remand order was granted by Magistrate Nik Isfahanie Tasmin Wan Ab Rahman this morning.

This person is the fourth top company executive which the task force has remanded this week.

According to the Malaysian Anti-Corruption Commission (MACC), the man was detained when he came to its office voluntarily at 7pm yesterday to give his statement.

RM100,000 bond

Earlier today, the courts freed a 54-year-old company director who was arrested on Tuesday. However, he had to post a RM100,000 bond.

There has been a series of arrests by the task force since Monday. All four suspects are believed to be involved with two companies linked to 1MDB.

These two companies were named by the Wall Street Journal in their July 3 piece which alleged that nearly US$700 million (RM2.6 billion) ended up in the accounts of Prime Minister Najib Abdul Razak.

Najib has said that he had never used 1MDB funds for "personal gain" but has not denied the allegation.

Malaysiakini is withholding the names of those arrested by the task force and the companies they work for, pending a formal charge being laid.

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