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Former Malaysian Finance Minister Charged with Failing to Declare Assets

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Malaysia,Finance Minister,Assets

Former Malaysian finance minister, Daim Zainuddin, has been charged with failing to declare his assets, including companies, properties, bank accounts, and luxury cars. The charges are linked to the release of the Pandora Papers, which exposed offshore accounts of leaders worldwide. Daim pleaded not guilty and was granted bail. If convicted, he could face up to five years in jail and a fine.

The two-time finance minister was alleged to have failed to declare his assets, which comprised 38 companies and 25 properties in KL, Selangor, Pahang, Negeri Sembilan, Perak and Kedah, as well as a bank account and seven luxury cars, including a Rolls-Royce.The anti-graft body said the probe was linked to the release of the Pandora Papers by the International Consortium of Investigative Journalists (ICIJ), which revealed offshore accounts of present and past leaders from around the world.

Daim pleaded not guilty and was given bail at RM280,000 (S$79,300) with no additional conditions after his lawyer told the court that he is “not going anywhere” owing to his health condition.If found guilty, he faces a maximum jail term of five years and a RM100,000 fine, with the next mention set for March 22.Daim was finance minister from 1984 to 1991 and rejoined the Cabinet between 1998 and 2001, following the sacking of then finance minister Anwar Ibrahim, who is now Prime Ministe

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