Former Yayasan Bank Rakyat (YBR) chairman Nazir Hussin Akhtar Hussin has accused the Malaysian Anti-Corruption Commission (MACC) of abusing its powers during an investigation into the alleged misappropriation of RM10 million invested by the foundation.
Nazir claimed MACC officers conducted raids at his home and the residence of his brother, Mubarak Hussin, in an unprofessional manner.
He also said that during the seven days he was remanded by the anti-graft agency, he was questioned about the RM10 million investment for only one day, while questions on the remaining days focused on unrelated political matters.
According to Nazir, MACC had previously investigated the same investment in 2022, but he understood that no wrongdoing or misappropriation had been established at the time.
“I humbly appeal to the attorney-general to look at this matter fairly and thoroughly so that I will not become a scapegoat or be used as a tool for certain parties,” he said during a press conference with Mubarak and their lawyers.
“I believe the public have the right to know the actual facts, and I am ready to cooperate with all valid legal processes.”
Nazir, who served as YBR chairman from 2020 to 2022, also denied that any of the foundation’s money had gone missing, stressing that “not a single sen” was lost.
He said the RM10 million was invested in accordance with good governance and due diligence principles, with YBR receiving RM1.85 million in returns from the investment.
“YBR received hibah (returns) of RM1.85 million from the investment. Returns were credited directly to YBR’s account every three months throughout the period of the investment,” he said.
Nazir added that YBR eventually ended the investment in November 2022.
He also denied abusing his position as YBR chairman by investing the foundation’s funds in a company owned by Mubarak, claiming that his brother only invested in the company after YBR had already done so.
The allegations come after MACC chief commissioner Abd Halim Aman confirmed that two corporate figures who are siblings had been released on bail after being remanded from Oct 1 over an investigation into alleged misappropriation and abuse of power involving an investment worth about RM10 million.
The two men are suspected of committing the offences together towards the end of 2020 and colluding with an officer at an education foundation to approve the investment in a company owned by one of them.
As part of the investigation, MACC seized 15 luxury cars worth about RM31 million, 12 high-powered motorcycles valued at around RM5 million, five luxury watches, three bracelets and approximately RM30,000 in cash.
The agency also froze two personal bank accounts containing about RM2 million.
