KUALA LUMPUR – Tens of millions of ringgit in cash and assets were seized by the Malaysian Anti-Corruption Commission (MACC) in a raid yesterday on properties belonging to the supposed head of a syndicate that has been allegedly monopolising government projects.
Harian Metro quoted a source as saying that the anti-graft body found RM3.5 million stashed in the Datuk’s house, while luxury cars valued at RM15.7 million, as well as a bungalow, shop lot and office lot worth RM29 million, were also confiscated.
Additionally, 644 bank accounts under the names of individuals and companies with deposits worth RM100 million have been frozen.
“The opulence of this Datuk who heads the syndicate is extraordinary. Apart from owning a remarkable amount of cash and real estate, he also owns several luxury cars, a luxury boat and two helicopters,” the source said.
It was reported yesterday that the alleged cartel, which had monopolised 345 government tender projects worth RM3.6 billion since 2014, had been crippled by the MACC following the arrest of the 47-year-old syndicate head and six others.
According to the source, the cartel had set up more than 150 companies to enter into negotiations with ministries and government agencies, with the director of each company being paid between RM5,000 and RM8,000.
“It is believed that 114 individuals used their names to open the 150 firms,” the source said.
The syndicate’s modus operandi comprises using the companies in rotation to enter the tender process, each with different offers.
“The information on the tender and the projects’ specifications, including the ceiling price, are channelled by individuals from the ministries and agencies.
“Based on the MACC’s probe, most of the academic and professional qualifications of the individuals named in the companies, as well as the firms’ financial statements used for the tender processes, are fake.
“They are just to convince the tender board of their ability to implement the projects,” the source said. – The Vibes, April 6, 2021
