KUALA LUMPUR: The chief executive officer of a higher education company has been arrested for allegedly misappropriating RM270,000.
According to a source, the Malaysian Anti-Corruption Commission arrested the man, a professor in his 60s, last night at the anti-graft agency's headquarters.
"Initial investigations reveal that the suspect allegedly used about RM270,000 in company funds for personal use, including paying off debts, buying a car and other personal expenses.
"He is also suspected of instructing the company's staff to prepare a letter entitling him to a RM12,000 monthly salary since March 2023 even though his appointment letter is clear that he would only receive five per cent of the company's annual profit."
The suspect has been remanded until July 30.
When contacted, MACC Investigation Division senior director Datuk Seri Hishamuddin Hashim confirmed the arrest.
The case is being investigated under the MACC Act.