KUALA LUMPUR – The high court was told today that the withdrawal of RM17.9 million from Yayasan Akalbudi funds was a criminal breach of trust because it did not get the consent of the charity foundation’s board of trustees.
Malaysian Anti-Corruption Commission investigating officer Muhammad Fazli Zulkifli, 36, said the withdrawal of the money from Yayasan Akalbudi’s Affin Bank account, to be transferred to a Maybank account belonging to Messrs Lewis & Co, the foundation’s trustee, was instructed by Datuk Seri Ahmad Zahid Hamidi.
The 93rd prosecution witness said this during the reexamination by deputy public prosecutor Sazilee Abdul Khairi, on the 48th day of the trial of the former deputy prime minister, who is facing charges of corruption, abuse of power, and money laundering involving millions of ringgit in funds from Yayasan Akalbudi.
Last Friday, Fazli told the court that Zahid was involved in the withdrawal of RM17.9 million from Yayasan Akalbudi funds for the purchase of shares as well as to be placed as fixed deposits.
Of the amount, he said RM8.6 million was paid to Ri-Yaz Assets Sdn Bhd as deposit for a share purchase with another RM9.3 million to be placed as fixed deposits.
“Based on your investigation on Messrs Lewis & Co, the holder of RM17.9 million, who gave instructions in regards with the money to the firm?” Sazilee asked Fazli.
“All instructions received by Lewis & Co were from Zahid, and Lewis & Co will not act without instructions,” Fazli had replied.
The witness also confirmed that no other members of Yayasan Akalbudi’s board of trustees had given instructions to Lewis & Co, specifically its partner B. Muralidhahran.
On Zahid’s statement to MACC during the investigation into the case involving the investment in Ri-Yaz Assets, Fazli said it contradicted the testimony of other witnesses.
“Based on Zahid’s statement, he said Yayasan Akalbudi was interested in investing (in Ri-Yaz Assets) in the hotel sector, but the testimony from other witnesses said that Datuk Nurulhidayah (Zahid’s daughter) was interested to make an investment and payment was made by Yayasan Akalbudi,” said Fazli.
Sazilee: “What about the testimony of Tan Sri Rashid Manaf (shareholder of Ri-Yaz Assets)?”
Fazli: “According to Rashid, Nurulhidayah expressed interest in investing in Ri-Yaz Assets.”
Asked whether there were any documents on the investment, Fazli replied, “No, it involved only two parties, Nurulhidayah and Rashid. During the investigation I also did not find any document saying that Nurulhidayah was an observer or proxy in Ri-Yaz Assets."
Zahid, 68, faces 47 charges, 12 of them for criminal breach of trust, eight for corruption, and 27 for money laundering involving tens of millions of ringgit of funds from Yayasan Akalbudi.
The trial before judge Collin Lawrence Sequerah continues today. – Bernama, March 8, 2021
