KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) is investigating Singaporean tycoon Datuk Seri Akbar Khan for alleged money laundering and corruption, in case reportedly linked to a probe into former finance minister Tun Daim Zainuddin.
Quoting sources, Channel News Asia reported that MACC questioned Akbar last week following raids on his home and office in KL.
Akbar, who is the main shareholder of BRDB Developments Sdn Bhd, also had his personal and business accounts frozen. He has been ordered to declare his and his family member's assets.
A spokesman from Akbar's office declined to comment on specific details of the case, saying their priority is ensuring a "fair investigation".
The report said that Akbar and some of his former associates are expected to be called in for further questioning by MACC.
Akbar and his former associates are understood to have played an important role in the repatriation of some US$4 billion in frozen shares that were once listed on the now-defunct Central Limit Order Book (CLOB)
They were also reportedly involved in a "controversial" change of shareholding at Multi-Purpose Holdings Bhd (MPHB).
According to the report, Akbar's case is linked to MACC's "widening investigation" into Daim, whom he has been friends with since the 1980s.
MACC is investigating Daim over allegations of corruption and money laundering.
The CNA report said Akbar's "first big break" was in 1999 when he secured "tacit government backing" to acquire control of MPHB. Daim was finance minister at the time.
MACC's probe, according to the report, is linked to the takeover of MPHB and the rights to handle the repatriation of shares listed on CLOB.
The New Straits Times is reaching out to MACC for comment.