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Bank Chairman Remanded Over Misuse Of Funds Released

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PUTRAJAYA – The chairman of a bank was released today on a bond without deposit
in one surety following his remand since Aug 30 to facilitate investigation into
misuse of bank funds.

Magistrate Nik Isfahanie Tasnim Wan Ab Rahman allowed the chairman to be
freed after the Malaysian Anti-Corruption Commission did not apply to extend the
remand period, according to an MACC spokesman.

The chairman had been held in remand over an MACC probe into misuse of funds
totalling RM15 million involving the publication of a book. He was detained at
the MACC headquarters on Aug 29.

The MACC also detained eight other people, three of them women, 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.


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