PUTRAJAYA: A former chief executive officer of Felda Investment Corporation Sdn Bhd (FIC) was arrested on Monday night after hours of questioning at the Malaysian Anti-Corruption Commission (MACC) headquarters here. He was detained to allow investigations into FIC's purchase of a high-end property in Kensington, London, between 2013 and 2015, for a total of £60mil (RM330mil). FIC vehicles were seen bringing individuals, believed to be its legal advisers, to the building in the afternoon. They were arrested at the MACC headquarters after giving their statements. It is believed that FIC, the investment arm of Felda, had paid more than the actual market value of the property, causing it to suffer millions of ringgit in losses.

Source: The Star July 31, 2017 14:37 UTC