GCEO among three arrested for allegedly siphoning company funds

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KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) arrested three individuals, including a group chief executive officer (GCEO), for suspec...

The Malaysian Anti-Corruption Commission arrested three individuals, including a group chief executive officer , for suspected misappropriation of RM1.5 million in funds belonging to a publicly listed company.

“Preliminary investigations found that all the suspects were also believed to be involved in establishing a company that was not approved by the board of directors for the purpose of carrying out a collaborative project worth about RM258 million.

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