MACC: Co-operative board member arrested on charges of abuse of power in RM3.2 million co-operative investment fund case

IPOH, Oct 22 — A special project employee, who is also a board member of a cooperative, has been remanded in custody for five days from today on charges of abuse of power by using investment funds worth RM3.2 million.

The remand order against the 40-year-old man was made by City Magistrate Khanum Mohmad Sah at the Magistrate’s Court.

According to a MACC source, the suspect was arrested at the MACC office in Perak around 2.25pm ​​yesterday.

It was alleged that he used his position as a board member of the cooperative by ordering the transfer of investment funds amounting to RM700,000 and RM2.5 million from the cooperative to the accounts of companies owned by his younger brother and wife respectively. without implementing any projects.

Both cases were investigated under Section 23 of the MACC Act 2009. — Bernama