Isa Samad Arrested over FIC Hotel Deals

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The former FGV chairman was arrested over FIC’s purchase of two hotels between 2014 and 2015, one in London and another in Sarawak.

Former Felda Global Ventures (FGV) chairman Isa Samad has been arrested by anti-graft authorities in connection with two hotels purchased by Felda subsidiary Felda Investment Corporation (FIC).

He was detained at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya this afternoon over FIC’s purchase of a London hotel believed to be the Grand Plaza Kensington, and a Sarawak hotel.

Both hotels were believed to have been bought at much higher than market prices, resulting in FIC allegedly losing millions of ringgit.

Isa had arrived at the commission’s headquarters at 2.40pm today and was arrested at 4.24pm after two hours of questioning.

FGV came under investigation following allegations made by its chief executive officer Zakaria Arshad on Jun 6. He had urged MACC to probe deals made by the company, especially those involving FGV’s procurement department.

In addition, there were claims of misconduct and abuse of power made against the FGV leadership.

On Jun 7, Zakaria met with MACC. The next day, the agency raided FGV offices in Menara Felda in Kuala Lumpur, seizing documents to facilitate its investigations.

On Jun 19, Isa resigned as FGV chairman after meeting with the prime minister and was appointed the acting chairman of the Land Public Transport Commission (SPAD).

On Jun 21, Isa and his wife Bibi Sharliza Mohd Khalid gave their statements to MACC.

Isa’s former aide, Muhammad Zahid Md Arip, as well as former FIC chief executive officer Zaid Abdul Jalil had previously been held under MACC remand.

The MACC had also called up FIC’s former and present directors and lawyers to assist in investigations.

Related reports:

Aug 4, Two from Law Firm Arrested in FIC London Hotel Probe

Aug 1, Ex-Felda Chairman’s Aide Nabbed

Aug 1, Ex-FIC CEO Arrested over London Hotel Purchase

Jul 30, Three Detained over FIC’s Kuching Hotel Purchase

Jul 21, Two Arrested by MACC over FIC’s London Hotel Purchase

Jul 20, More FIC-Related Arrests Possible

Jul 17, MACC Raiding FIC Office

Jul 10, MACC to Open New Investigation Paper on Felda

Jun 21, Isa Neither Denies nor Admits to Any Wrongdoing

Jun 21, It’s Isa and Wife’s Turn After 60 Witnesses Gave Statements