Former MD/CEO of Tekun nabbed for alleged corruption

A former managing director and chief executive officer of National Entrepreneurial Group Economic Fund (TEKUN Nasional) with the title of 'Datuk' was detained by the Malaysian Anti-Corruption Commission (MACC) today on suspicion of committing corruption.

According to a source in MACC, the 62-year-old suspect was detained at his residence in Bukit Bandaraya, Shah Alam at 5.15pm.

"The suspect was believed to have accepted a bribe to speed up payment to a debt collection company amounting to RM360,000 on Jan 15, 2015.

"The suspect took 10 per cent or RM36,000 of TEKUN Nasional's bad debt for November, 2014 as a bribe for expediting payment," he told Bernama today.

At the same time, the suspect, when holding the posts, had appointed a debt collection company to collect debts from 2008 to 2014 from borrowers who had defaulted on payments for more than two years. - BERNAMA