PUTRAJAYA (April 7): The magistrate's court here today allowed the release of a former bank president cum managing director and two other men who were detained since last Wednesday (March 31) to facilitate the Malaysian Anti Corruption Commission's investigations into the granting of a RM400 million loan for an allegedly non-existent project.
They were released by magistrate Shah Wira Abdul Halim at about 10am today.
The three were among four people, including a woman, who were picked up by the MACC on March 30 in the Klang Valley and remanded.
However, the woman, who is understood to be a consultant, was released on Friday (April 2), while the three men, including the former bank president who holds the title 'Datuk', had their original three-day remand extended until today.
A source with the MACC confirmed their release.
The parties were arrested for allegedly receiving S$3.17 million (about RM8 million) as commission for approving a RM400 million loan for a project that is said to be non-existent.
MACC chief commissioner Datuk Seri Azam Baki previously said the individuals were being investigated under Section 16 of the MACC Act 2009 for allegedly taking kickbacks.