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<h2>The Malaysian Anti-Corruption Commission (MACC) has confirmed that they are currently investigating the son of a former prime minister over allegations of corruption committed in the 1990s</h2>
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<p>According to <a target="_blank" rel="nofollow noopener" href="https://www.bharian.com.my/berita/nasional/2024/01/1201570/anak-bekas-perdana-menteri-disiasat-sprm">Berita Harian</a>, the investigation is believed to be related to a business he owned in the late &#8217;90s that was subsequently acquired by a subsidiary of a government-linked company.</p>
<p>The acquisition, which was in line with the country&#8217;s privatisation policy at the time, allegedly resulted in him earning hundreds of millions of ringgit, as per sources cited by the daily.</p>
<p>The sources also claimed that the man was listed in the so-called Offshore Leaks.</p>
<p>&#8220;However, it could not be confirmed if the MACC is also looking into allegations made in the document,&#8221; they said.</p>
<p>Offshore Leaks is a 2013 report that discloses information of 130,000 offshore accounts. It provides in-depth details on the personal financial affairs of individuals and government officials that were previously concealed from public scrutiny.</p>
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<p class="img-caption">The MACC headquarters in Putrajaya.</p>
<p>                <small class="img-credit">Image via <a target="_blank" href="https://www.dailyexpress.com.my/news/214196/rm39m-frozen-in-rm2-3b-misappropriation-probe/" rel="noopener">Daily Express</a></small>
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<h2>Sources also revealed that the individual was told to declare his assets while he was being questioned at MACC&#8217;s headquarters in Putrajaya</h2>
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<p>&#8220;The investigation requires the individual to declare all his assets, whether within or outside the country in writing,&#8221; Berita Harian quoted one source as saying. </p>
<p>It is understood that the individual was summoned by the MACC for the second time yesterday, January 17, to assist in their investigation into allegations of corruption and misappropriation, reported <a target="_blank" rel="nofollow noopener" href="https://www.bernama.com/en/news.php?id=2263404">Bernama</a>.</p>
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MACC Investigates Son Of Former PM Over Alleged Corruption Committed In The Late 1990s

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<h2>Under investigation for graft, former finance minister Tun Daim Zainuddin today, 12 January, claimed that he faced great financial loss due to his decision to join the government and serve the country</h2>
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<p>According to Daim, if he had stayed in business and had actively developed his assets, the value of his liquid stock holdings alone would have been worth over RM50 billion today, <a target="_blank" rel="nofollow noopener" href="https://www.hmetro.com.my/mutakhir/2024/01/1049761/jika-kekal-berniaga-saham-cair-daim-lebih-rm50-bilion">reported</a> Harian Metro.</p>
<p>In a statement, he said, &#8220;My choice to join the government and serve the country came at a significant personal cost, entailing substantial financial sacrifice for both myself and my family.&#8221;</p>
<p>He and his family have filed a legal action to challenge the Malaysian Anti-Corruption Commission&#8217;s (MACC) investigation against them concerning the information provided in the Pandora Papers.</p>
<p>These papers consist of millions of leaked documents put together by an international consortium of investigative journalists, which were made public in October 2021.</p>
<p>Daim argued that his current wealth, despite relinquishing his riches upon entering politics, was is largely generated from the business ventures he began  before entering politics, and not through corruption.</p>
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<h2>He painted a hypothetical scenario where if he had invested in a US index fund, he would be worth far more than the alleged discrepancies</h2>
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<p>How much? </p>
<p>According to Daim, the value of his RM750 million assets, which he was ordered by the government to liquidate, would be worth more than RM42 billion if he had invested in an S&amp;P 500 index fund in 1984.</p>
<p>His affidavit paints a picture of a seasoned businessman: co-founding a property empire that&#8217;s worth over RM26 billion today, owning banks, and holding stakes in giants like Nestlé. The twist? He said he relinquished these riches upon entering politics, and was forced to liquidate assets at a fraction of their current value.</p>
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<p>                <small class="img-credit">Image via <a target="_blank" href="https://www.dailyexpress.com.my/news/226762/daim-family-legally-challenge-macc-s-probe/" rel="noopener">Bernama</a></small>
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<h2>Daim also highlighted discrepancies in treatment compared to other figures named in the Pandora Papers, who did not face MACC scrutiny</h2>
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<p>According to Daim, despite having provided a statement to MACC in February 2023, he only heard back from the anti-graft agency three months later in June last year.</p>
<p>He stated that Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi and Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz were also named in the Pandora Papers, but the two were not investigated by the MACC, and no action was taken against them.</p>
<p>He also said that the absence of specific charges and information surrounding the &#8220;Undisclosed Complaints&#8221; was proof of bias and a potentially flawed investigation by the MACC.</p>
<p>Daim said freezing his accounts and demanding asset details without clear accusations violated his constitutional right to a fair trial and personal liberty.</p>
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