Alleged siphoning of funds provided by the Federal Government.
The Malaysian Anti-Corruption Commission (MACC) has detained four men, including an individual with the title of ‘Datuk’, for the alleged misappropriation of some RM40 million.
The Datuk, a company chief executive, was arrested along with a secretary and an assistant financial officer from the same corporation.
The fourth suspect, who holds a honorific ‘Dr’ title, is a director with a different company.
The suspects were picked up in a sting operation in Kuala Lumpur between 4.30pm and 6pm yesterday.
They are believed to have collaborated to siphon off an allocation provided by the Federal Government.
The misappropriation is believed to have started last year.
MACC deputy chief commissioner (operations) Datuk Azam Baki confirmed the arrests, The Star reported.