Misappropriating RM15 million: Bank chairman released

The chairman of a local bank, with a 'Tan Sri' title, was released today on a bond without deposit in one surety from a detention related to investigations under the Malaysian Anti-Corruption Commission (MACC) Act 2009.

It is understood, Magistrate Nik Isfahanie Tasnim Wan Ab Rahman allowed the chairman to be freed after the MACC did not apply to extend the remand period.

He was arrested in his office last week for alleged corruption, abuse of power and misappropriation of funds involving RM15 million.

He was remanded for seven days from August 30 to assist in the investigation involving a book publishing project on a biography of the country's political figure.

Following that, the former general'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.

The MACC also detained eight other people, on Aug 25 to help in the probe. They were the bank managing director, a procurement manager, two lawyers, three owners of a publication company and a book writer.

The MACC has released everyone except one of the owners of the publication company who has been remanded for seven more days up to Sept 8.