Top SC officials, politicians implicated in RM28.2 million graft report

A report has been lodged with the Malaysian Anti-Corruption Commission (MACC) on alleged misconduct and corruption by the top management of the Securities Commission Malaysia (SC) and its board.

According to a report by Utusan Malaysia, the report was lodged by an NGO which claimed that it had strong evidence of the offences.

It also did not deny that they involved politicians holding important government positions.

A representative of the NGO was quoted as saying that three cases would be referred, including one involving conflict of interest by a board member totalling RM28.2 million in which the board member had interests in a company with work ties with the SC.

The group also cited a case involving the child of an individual linked to the SC’s top management whom the group claimed had been given the highest position in a company under investigation, with the probe later closed by the SC.

It said the third case involved high-ranking SC officials who received bribes in order to close an investigation into a public listed company involved in insider trading.

“We are concerned citizens who wish to ensure that government agencies are clean and are not used for personal interests or involved in corruption,” the spokesman said, adding that all evidence related to the case would only be given to MACC.