MACC raids SPAD office in ongoing probe into FIC hotel purchase (Updated)

PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) carried out a raid on the Land Public Transport Commission (SPAD) office of former Felda Global Ventures chairman Tan Sri Mohd Isa Abdul Samad today as investigators seek more evidence into a probe on the purchase of two hotels by Felda Investment Corporation (FIC).

Mohd Isa, who is SPAD acting chairman, was arrested by the MACC on Tuesday to assist in the investigations and is being held under a five-day remand order.

An MACC official confirmed the raid was carried out today.

Investigators had also raided Mohd Isa's home hours after his arrest on Tuesday.

The MACC said it had substantial evidence to justify Mohd Isa's arrest.

The MACC has to date called up 29 witnesses for questioning over the case.

Five people including a former chief executive officer of FIC and those involved in inking the purchase of the hotels were had also been detained for questioning in the past.

Last week, three board directors of the Felda Investment Corporation (FIC) were called up for the second time by the MACC for questioning over the ongoing probe.

The commission had also conducted raids at the FIC and FGV headquarters in Kuala Lumpur since it began its probe about a month ago on discovering that the hotels that were acquired for about RM500 million were overpaid by between 30% and 40%.

It is learnt that investigators discovered that a third-party company purchased the hotels and subsequently sold it to the FIC at a price ballooned way above the market value causing tens of million ringgit in losses.