Probe on Isa Samad to be completed soon: MACC

KUALA LUMPUR: Graft investigations on former Felda Global Ventures (FGV) chairman Tan Sri Mohd Isa Abd Samad (pix) will be completed soon, said Tan Sri Dzulkifli Ahmad.
The Malaysian Anti-Corruption Commission (MACC) chief commissioner said the investigating officers will be making their recommendations to the Attorney-General's Chambers (AGC) soon.
"I was informed this morning that there are still a few more actions to be taken in the investigations. A little bit more and it will completed.
"The investigations involved FGV and Merdeka Palace Hotel and Suites in Kuching, Sarawak," he told a press conference after launching the anti-graft campaign in the Kelana Jaya Line Light Rail Transit (LRT) stations.
Dzulkifli said MACC will submit the investigation papers with its recommendations to the AGC.
"We have not made our recommendations yet because the investigation has not been completed.
"We only investigate, AGC decides on prosecution. So it is up to them to see whether there is a case to be brought to court," he said.
Mohd Isa, 68, was arrested on Aug 15 in connection with the overpriced purchase of two hotels by the corporation's subsidiary Felda Investment Corporation (FIC).
The hotels that were acquired for about RM500 million were reportedly overpaid by between 30% and 40%.
The arrest was made following statements recorded from other witnesses since the probe on the FIC's acquisition of hotels in London and Kuching began in July.
FIC is said to have purchased a hotel in Kensington, London for an inflated price of RM330 million, when the property is said to be valued at around RM110 million.
It was also reported that FIC's purchase of Merdeka Palace Hotel and Suites for RM160 million is also said to have been inflated by RM50 million from the actual value of RM110 million.
Mohd Isa was remanded on Aug 16 for five days under Section 16 of the MACC Act 2009 for allegedly accepting gratifications and was released on bail of RM150,000 with two sureties on Aug 21.
MACC had also conducted raids at the FIC and FGV headquarters in Kuala Lumpur since it began its probe.
It was also reported that MACC discovered that a third-party company purchased the hotels and subsequently sold it to the FIC at a price marked up way above the market value causing tens of millions in losses.