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HomeMalaysia NewsFormer Malaysian Finance Minister, Tun Daim Zainuddin, Faces Additional Investigations Amid Corruption...

Former Malaysian Finance Minister, Tun Daim Zainuddin, Faces Additional Investigations Amid Corruption Charges : Report

In summary, Tun Daim Zainuddin’s legal challenges continue to mount, with the MACC revealing additional cases under investigation. The charges encompass abuse of power and money laundering, while the former finance minister’s health issues add a unique dimension to the unfolding legal proceedings. The extensive list of undeclared assets, including companies, luxury vehicles, and a diverse real estate portfolio, underscores the complexity of the case.

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The Malaysian Anti-Corruption Commission (MACC) intensifies its scrutiny of Tun Daim Zainuddin following corruption and money laundering charges related to the alleged non-disclosure of 71 assets.

Despite being charged under Section 36(1) of the MACC Act, new revelations indicate that there are additional cases under investigation. MACC Chief Tan Sri Azam Baki revealed that the focus is on abuse of power and money laundering, invoking Sections 23 of the MACC Act 2009 and Section 4(1) of the Anti-Money Laundering Act. Daim, frail and in a wheelchair, pleaded not guilty, citing health challenges.

Alleged Offenses and Legal Framework

The charges against Tun Daim Zainuddin are rooted in the accusation that he failed to declare 71 assets, leading to investigations under specific legal provisions.

1. MACC Act 2009: Abuse of Power (Section 23)

The MACC focuses on potential abuse of power for personal gain, as outlined in Section 23 of the MACC Act 2009. This implicates Daim in cases beyond the initial charge, suggesting a pattern of misconduct.

2. Anti-Money Laundering Act (Section 4(1))

The investigation extends to money laundering allegations, invoking Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001. This reflects the seriousness of financial impropriety accompanying the undeclared assets.

Legal Proceedings and Health Challenges

1. Court Appearance and Plea

Daim, appearing physically frail and in a wheelchair, pleaded not guilty before Sessions Judge Azura Alwi. The charges, under Section 36(1) of the MACC Act, form the initial legal confrontation.

2. Bail Granted and Health Considerations

Despite the charges, Daim was granted bail of RM280,000 in one surety. Notably, the judge refrained from imposing additional bail conditions after considering the 86-year-old’s health. Daim’s lawyer, M. Puravalen, highlighted his client’s status as a kidney patient, stroke survivor, and an individual who underwent eye removal due to infection.
Undeclared Assets: A Wealth of Companies and Properties

1. Company Holdings

Daim’s undisclosed assets encompass 38 companies, revealing the extent of his corporate interests that were not declared as required.

2. Luxury Vehicles

Among the concealed assets were seven luxury vehicles, including a Rolls Royce 2 Axle Rigid Body, three Mercedes-Benz cars, a Jaguar XJS HE, an Austin Morris Austin, and a Ford Prefect.

3.Real Estate Portfolio

The former finance minister failed to declare ownership of 25 properties, including condominium units, houses, and hotels spread across Kuala Lumpur, Selangor, Pahang, Negri Sembilan, and Kedah. These undisclosed holdings add another layer to the ongoing investigations.

Pandora Papers Link and Extended Scrutiny

1. Ongoing Investigation Since 2021

Daim’s legal troubles began in February last year when the MACC initiated investigations based on information linked to his involvement in the Pandora Papers. This extended scrutiny hints at a prolonged examination of his financial affairs.

2. Two Terms as Finance Minister

Daim’s political career, marked by two terms as Malaysia’s finance minister from 1984 to 1991 and 1999 to 2001, adds a historical dimension to the investigation, raising questions about the timeline and potential implications of his actions during these periods.

In summary, Tun Daim Zainuddin’s legal challenges continue to mount, with the MACC revealing additional cases under investigation. The charges encompass abuse of power and money laundering, while the former finance minister’s health issues add a unique dimension to the unfolding legal proceedings. The extensive list of undeclared assets, including companies, luxury vehicles, and a diverse real estate portfolio, underscores the complexity of the case.