Isa Samad to be charged tomorrow over hotel purchase by FIC

Former Felda chairman Tan Sri Mohd Isa Abdul Samad (picture) will be charged at the Kuala Lumpur Sessions Court tomorrow in connection with a  hotel purchase by Felda Investment Corporation (FIC).

According to a source at the Malaysian Anti-Corruption Commission (MACC), Mohd Isa will be charged in connection with FIC’s purchase of a hotel in Kuching, Sarawak.

Mohd Isa was at the MACC headquarter here today,  and according to his lawyer Datuk K. Kumarendran, he was there to sign a letter of undertaking on his presence in court tomorrow.

Mohd Isa arrived at the MACC headquarters at 10.45 am, accompanied by his wife,  Puan Sri Bibi Sharliza Mohd Khalid, and were seen leaving the building about 20 minutes later.

On Aug 30, MACC deputy chief commissioner (operations), Datuk Seri Azam Baki reportedly said the public prosecutor was ‘weighting up’ charges against Mohd Isa ion the hotel purchases by FIC.

On June 21, 2017, Mohd Isa and his  wife were called up by MACC to record their statements to MACC Putrajaya, following which a new investigation paper was opened by MACC over the purchase of hotels by FIC  in Kensington, London,  and Kuching between 2013 and 2015.

It was claimed that FIC had acquired the hotel in Kensington at a significantly higher price than its original value causing  the FELDA subsidiary to lose millions of ringgit.

Prior to that, the media reported that a Malaysian company which handled the purchase transaction made a profit of RM78 million in  foreign currency exchange within 24 hours of the purchase transaction.

The MACC  said its investigation on the purchase of a hotel in Kuching by the FIC also involved  buying it at higher than the market value.