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The MACC is investigating 12 offshore assets belonging to an 84-year-old former finance minister, widely believed to be Tun Daim Zainuddin, and his family members. This is according to a news portal in Malay and head there to read more on MACC Investigating the former Min of Finance.
Pandora Papers
The investigation follows the release of the Pandora Papers, which revealed that more than 300 politicians, businessmen, and criminals around the world were using shell companies in tax havens to hide their wealth. The MACC is reportedly studying the flow of money to foreign investments to determine whether there is any criminal element involved.
MACC Investigating Daim?
The investigation is still in its early stages, and more individuals may soon be questioned in connection with the Pandora Papers. Daim’s two sons are also shareholders in a shell company that holds multi-million dollar properties in London. While having offshore entities is not illegal, it may be linked to tax evasion or an attempt to maintain confidentiality for various reasons. Daim has denied any wrongdoing, but the investigation is ongoing.
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