14/02/23

MALAYSIA: MACC calls in ex-minister over Pandora Papers.

As published on nst.com.my, Tuesday 14 February, 2023.

The Malaysian Anti-Corruption Commission (MACC) has reportedly called in a former minister over the Pandora Papers, which linked several prominent Malaysians to offshore tax havens.

Malay daily, Utusan Malaysia, citing a source said the 84-year-old former minister had his statement taken after being questioned yesterday (Feb 13) at the MACC's headquarters in Putrajaya.

According to the source, the former minister, in his statement, explained the financial flow of 12 offshore companies linked to him and his family, who are suspected of possessing "extraordinary wealth".

"It is understood that MACC's investigation is focused on tracing the assets and investments linked to the leader and his family abroad, and whether they were gained through government projects.

"MACC is still tracing the existing assets in addition to examining the flow of financial transactions of offshore companies linked to the leader.

"It is likely that there will be more individuals called in relation to the Pandora Papers," Utusan Malaysia quoted the source as saying.

MACC will also record a statement from the son of a former prime minister today, according to the report.

So far, no bank accounts had been frozen as a result of MACC's investigation as the investigation was still at an early stage, said the source.

The Pandora Papers refer to the millions of leaked documents compiled by an international consortium of investigative journalists and made public in October 2021, allegedly revealing offshore accounts of present and past leaders, including presidents, prime ministers, billionaires and prominent business leaders.

This is the largest data leak of its kind and involves nearly 12 million documents from offshore service providers that help set up and manage shell companies globally.

Some Malaysians linked to it include former finance ministers Tun Dr Daim Zainuddin and Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Umno president Datuk Seri Dr Ahmad Zahid Hamidi, and PKR's Selayang MP William Leong as well as parents of fugitive financier Low Taek Jho.