A CIVIL society group lodged a report with the Malaysian Anti-Corruption Commission (MACC) over allegations of misconduct and corruption involving the Securities Commission’s (SC) top management, its board members and unnamed politicians. 

A Rakyat Malaysia Prihatin representative, who wanted to be known as Syahmi, said the report was made at 4.30pm on Sunday at the anti-graft headquarters, Putrajaya. 

SC and MACC have yet to respond to queries on the matter from The Malaysian Insight. 

“I came to MACC to expose misconduct and corruption by the top management in the commission, including board members and possibly politicians who hold important positions in the government. 

“There are three cases that I refer to the MACC. The first involves the son of the SC’s top management who also held the highest position in a company investigated by the SC. However, the SC has concluded investigations into the matter,” he said when contacted.

The second case, he said, involved a conflict-of-interest matter. 

The case concerned SC board members owning shares worth RM28.2 million. Apparently the board member had an interest in the company and that company had a working relationship with the SC, he said. 

The third case involved high-ranking SC officials who accepted bribes in return for turning a blind eye in investigations into public companies that committed trading offences. 

“MACC’s probe needs to be expedited because many companies have become victims, including the public,” he said. 

According to Syahmi, MACC should have investigated the case a long time ago. He claimed to have solid evidence on all three cases. 

“We are concerned citizens who want to keep government agencies clean and not used for personal purposes, which involve corruption. 

“We will only hand over all evidence related to this case to MACC,” he said.

The group’s report to MACC comes after SC’s statement on January 6, which sought clarification from MACC chief commissioner Azam Baki regarding his ownership in shareholding involving several companies. 

According to the SC statement, under section 25 of the Securities Industry (Central Depositories) Act 1991, every security account opened with a central depository must be in the name of the owner of the depositor or in the name of an authorised nominee. 

“In addition, section 29A of the Act stipulates that all dealings in securities shall be carried out only by the owner or an authorised person. 

“The SC will liaise with the parties involved, including Azam Baki, to seek clarification over statements, as well as gather any relevant evidence,” he said in the statement.

The day before, Azam appeared to assert he had not committed any offence and did not have any interest or shareholding in any company.

He explained to the Anti-Corruption Advisory Board that his share account was used by his brother, Nasir to make transactions and he had no interest in the shares purchased. 

“The shares were bought through the open market by my brother using his financing and the company shares bought by him have nothing to do with the investigation by MACC. 

The shares have been transferred to Nasir’s share account. 

“I don’t see it as an issue… allowing my brother to use my account to buy shares. If it is an offence, tell me that it is an offence,” he said. – January 10, 2022.