Isa Samad to be Charged Tomorrow over Hotel Purchase by FIC

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MACC gets green light to charge Isa over inflated hotel purchase.

Former Felda chairman Tan Sri Mohd Isa Abdul Samad will be charged at the Kuala Lumpur Sessions Court tomorrow in connection with a hotel purchase by Felda Investment Corporation (FIC).

The Malaysian Anti-Corruption Commission (MACC), in a statement today, said Isa, who is also a former member of the FIC Board of Directors and former FIC director, would be charged at 9am tomorrow.

The commission said Isa was at the MACC headquarters in Putrajaya at 10.48am today to sign an appearance notice to present himself in court.

Isa became Felda chairman in 2011 and stepped down in January last year after the agency suffered financial losses.

At end of June this year, its debt stood at RM8 billion.

On November 30, FGV Holdings Berhad also sued Isa and former chief executive officer Datuk Mohd Emir Mavani Abdullah over the purchase of two luxury condominium units allegedly for above market price.

In the lawsuit filed in the High Court in Kuala Lumpur, FGV blamed the duo for losses suffered as a result of their alleged failure to discharge their “fiduciary duty, duty of fidelity and/or duty to exercise reasonable care, skill and diligence”.

Mohd Isa had recently quit Umno to independently contest the Port Dickson by-election that PKR president Datuk Seri Anwar Ibrahim won.

Related reports:

Dec 1, FGV Files Second Suit Against Isa and Emir

Nov 24, FGV Sues Ex-Chairman Isa Samad, 13 Others for RM514M Damages over Bad APL Acquisition