Millions in assets seized from 'Datuk' behind 'project cartel: MACC

Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) found RM3.5 million in cash as well several other assets at the residence of a ‘Datuk’ believed to be the mastermind of a ‘project cartel’ who was arrested yesterday.

Luxury vehicles worth RM15.7 million and other assets including bungalows, shop houses and offices worth RM29 million were also seized in the raid.

MACC sources said a total of 644 individual and company accounts estimated to be worth RM100 million were also frozen as part of the investigations.

“The ‘project cartel’ is led by a 47-year-old businessman who has an outstanding net worth in terms of assets and cash besides owning several luxury cars, a luxury yacht and two helicopters.

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"The individual has monopolised government projects through tenders worth more than RM3.8 billion, and the syndicate is believed to have been in operation from 2014," said the source.

According to sources, the modus operandi of the syndicate was to open more than 150 companies using the names of different individuals as the company directors, who are paid salaries of between RM5,000 to RM8,000.

However, the companies actually belong to the Datuk concerned, and it is believed that the companies were opened using the names of 114 individuals.

The source informed that the companies would be used in rotation to submit tenders or quotations to ministries and government agencies.

He said information about the tenders including project specifications and ceiling prices would be channelled to the syndicate by certain individuals in the ministry or agency concerned.

"The results of the MACC investigation found that almost all the companies used false information in terms of academic qualifications, professional certificates and financial statements to convince the tender board of the companies' ability to implement the projects," he said.

Yesterday, the MACC arrested a 38-year-old senior officer of a government agency in Ampang, on suspicion of being involved in the ‘project cartel’.

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Earlier, the MACC successfully crippled the syndicate by arresting seven individuals, including its mastermind.

All of them were reported to have monopolised a total of 354 tenders from several ministries and government agencies nationwide involving projects worth RM3.8 billion since 2014.

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