Bank chairman, a 'Tan Sri', remanded seven days

The chairman of a bank with the title of 'Tan Sri' is being remanded for seven days from today to assist in the investigation into misappropriation of funds worth RM15 million involving a book publishing project on a biography of the country's political figure.

Magistrate Nik Isfahanie Tasnim Wan Ab Rahman allowed the application by the Malaysian Anti-Corruption Commission (MACC) to remand the 65-year-old until Sept 5.

The man came to give his statement to the Kuala Lumpur MACC headquarters before being brought to the MACC office in Putrajaya where he was detained at 3pm yesterday.

Following the detention, the Tan Sri's bank account containing almost RM1 million had been frozen.

The Tan Sri is the third official from the bank detained by the MACC over the case.

Four others, namely the managing director of the same bank and with the title of 'Datuk', the bank's former director of procurement and two publishing company owners whose remand period ended today, were released by the MACC upon completion of investigations.

So far, seven individuals had been arrested by the MACC to assist in investigations into the case, including the four to be released today.

The case is being investigated under Section 23 of the MACC Act 2009.