RM143 Million Seized in Malaysian Highway Sukuk Scandal

Malaysian Authorities Seize RM143 Million in Assets Linked to Highway Sukuk Scandal Kuala Lumpur, Malaysia – A major investigation into the misuse of highway sukuk funds between 2016 and 2020 has resulted in the seizure of assets worth an estimated RM143 million. The Malaysian authorities have announced the recovery of a wide range of luxury items and assets from 14 individuals implicated in the scandal. The seized assets include luxury condominiums valued at RM24.5 million, 9 cars worth RM7.65 million, and 13 additional cars still under investigation. Other items include a luxury watch (RM25 million), handbags (RM3 million), jewelry (RM6 million), four horses (RM400,000), alcoholic beverages (RM3 million), and overseas assets valued at over RM15 million. In addition, an estimated RM20 million in gambling activity is also under investigation. "This operation demonstrates our commitment to recovering misappropriated funds and holding those responsible accountable," said a spokesperson for the Malaysian Anti-Corruption Commission (MACC). The MACC is continuing its investigation and further arrests and seizures are expected. The recovery of these assets represents a significant step towards restoring public trust and ensuring financial transparency in Malaysia.