MACC remands CEO suspected of misappropriating RM270k

The MACC today remanded a professor cum chief executive officer (CEO) of a higher education company suspected of siphoning company funds amounting to RM270,000.

According to a source, the man in his 60s was detained at 7pm yesterday when he gave his statement at the MACC head office.

The source said following the arrest, the suspect was brought to the Putrajaya Magistrate’s Court this morning and a remand order for seven days until July 30 was issued by magistrate Irza Zulaikha Rohanuddin.

“Preliminary investigations found that the suspect is believed to have used money worth about RM270,000 for personal use, including paying debts, buying cars, and other personal expenses.

“The suspect is also accused of instructing the company’s staff to prepare a letter for salary payments amounting to approximately RM12,000 per month from March 2023, while the suspect’s appointment letter as CEO only entitles him to receive five percent of the company’s annual profit,” he said.

MACC senior director of Investigations Hishamuddin Hashim confirmed the arrest and said the case is being investigated under the MACC Act 2009.

- Bernama

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