ANTI-GRAFT officers arrested Isa Samad today over a Felda Investment Corporation (FIC) purchase of hotels in London and Kuching.

The former Felda chairman was previously questioned over the deals. He was moved out from the company and made acting chairman of the Land Transport Commission two months ago.

Isa arrived at the Malaysian Anti-Corruption Commission headquarters around 2.40pm and was accompanied by two lawyers. However, Isa went to the office on his own. 

MACC deputy chief commissioner Azam Baki confirmed the arrest at 4.20pm.

The anti-graft agency opened an investigation into FIC’s purchase of a hotel in Kensington, London, between 2013 and 2015 at an inflated price, which resulted in the Felda subsidiary incurring millions of ringgit in losses.

FIC reportedly bought the four-star hotel for £60 million (RM333 million) on December 16, 2014 when it was valued at RM110 million.

It was reported that MACC opened an investigation into FIC’s purchase of a hotel in Kuching after obtaining information during the investigation into the London property purchase. 

FIC paid RM160 million for the Kuching hotel, which is RM50 million more than its actual value.

Isa’s former aide, Muhammad Zahid Md Arip, and former FIC chief executive officer Zaid Abdul Jalil were also held under MACC remand.

Others hauled up by MACC included FIC’s former and present directors and lawyers to assist in investigations. – August 15, 2017.