Wednesday, October 21, 2020

Malaysia’s ex-finance minister charged with bribery over undersea tunnel project


Malaysia’s former Finance Minister Lim Guan Eng was charged with corruption over an undersea tunnel project in northern Penang state.

Prosecutors accused Lim of asking for 10% of future profit in exchange for helping a company win the contract to undertake Penang transport projects including the undersea tunnel. Lim pleaded not guilty in a Kuala Lumpur court on Friday. If convicted, he would face up to 20 years imprisonment and a fine of no less than five times the value of the bribe.

He will face a related charge in Penang on Aug. 10, and another charge on a separate case on Aug. 11, the Malaysian Anti-Corruption Commission said in an earlier statement.

Lim, who was finance minister under the Pakatan Harapan administration that collapsed in February, remains the leader of one of the biggest opposition parties. The allegations may undermine the opposition coalition’s effort to challenge Prime Minister Muhyiddin Yassin’s government, which rose to power without an election.

Manufacturing Hub

- Advertisement -

The criminal charge against Lim comes after the opposition bloc lost power in the state of Sabah, which was among four of seven states that the coalition maintained a hold on after its government fell. For months, Pakatan Harapan has sought to launch a motion of no-confidence against Muhyiddin, who holds a razor-thin majority in parliament. Both sides of the aisle have stepped up talks of a possible snap election.

As chief minister of Penang for a decade, Lim had been credited for helping develop the state into a manufacturing powerhouse and one of the largest contributors to the country’s economy despite its small size. The anti-graft agency first opened an investigation into Penang’s undersea tunnel project in 2017.

In 2018, Lim had been discharged amounting to acquittal on separate corruption charges.

- Advertisement -


Germany issues international arrest warrant for founders of law firm at the centre of Panama Papers

Germany has issued international arrest warrants for the two founders of the firm at the centre of the tax haven scandal exposed by the...

Goldman to pay over $2 billion in DOJ’s 1MDB Probe

Goldman Sachs Group Inc. has reached a long-awaited pact with the U.S. Department of Justice to pay more than $2 billion for the bank’s...

Ex-managers of Security firm pleads guilty in Santa Clara County concealed gun permit bribery scandal

Two former managers of a Silicon Valley international security firm pleaded guilty Monday to charges related to a bribery scheme to obtain concealed firearms...

Ohio former House Speaker Larry Householder to stand for reelection amid bribery charges

Republican Rep. Larry Householder’s name will be on the ballot Election Day as the disgraced Ohio lawmaker intends to serve his district for another...

Billionaire Robert Smith to Pay $140 million after admitting to tax evasion

Billionaire Robert Smith will pay about $140 million and acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax...

Latest News

This Week

Italian police arrests woman close to Vatican cardinal in corruption probe

The Vatican’s swirling corruption investigation has taken a mysterious new twist with the arrest on an international warrant of a Sardinian woman said to...

Judge orders billionaire Greg Lindberg to report to prison after conviction for bribery

Try as he might to extend his freedom, Durham businessman and convicted felon Greg Lindberg will become a federal inmate on Tuesday. Lindberg, the billionaire...

Medical device maker Merit Medical agrees to pay $18m to settle false claims

Medical device maker Merit Medical Systems Inc. (MMSI), of South Jordan, Utah, has agreed to pay $18 million to resolve allegations that the company...

Crown Resorts chairman Helen Coonan admits casino ‘enabled’ money laundering

Crown Resorts chairman Helen Coonan has conceded the casino giant facilitated money laundering at its Melbourne casino, but blamed it on "ineptitude" rather than...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks