MACC has legal power to order asset declaration, says lawyer

The Malaysian Anti-Corruption Commission has the legal power to require someone to declare his assets, says a criminal lawyer in response to a bid by former Yayasan Bank Rakyat chairman Nazir Hussin Akhtar Hussin to prevent an MACC order.

N Sivananthan said the MACC was empowered under the MACC Act to require those under investigation to declare their assets. He questioned the efficacy of Nazir’s refusal to accept an MACC notice on the basis that he had applied for an injunction to prevent enforcement of the order.

Nazir is being investigated over alleged misappropriation and abuse of power involving a RM10 million investment made in 2020. His brother, Mubarak Hussin, is also implicated in the investigation.

“I don’t understand what injunction he is talking about,” Sivananthan said. “The authorities have the power to ask you to declare your assets, but you are now asking the court to prevent them from doing so.

“I really don’t see how that is going to work. You are effectively telling them they cannot investigate, even though the law provides that power. I am interested to see how the court will rule on Nazir’s application.”

Nazir was summoned to MACC headquarters on Oct 14, alongside his wife and assistant, to assist in the investigation. The MACC recorded statements from his wife and assistant, while Nazir was served with the notice, which he refused to accept.

On Oct 8, Nazir accused the MACC of abusing its powers in the investigation. He also criticised the commission’s raids on his home and his brother’s residence, as well as what he described as unprofessional conduct during his seven-day remand.

During the raids, the MACC seized 15 luxury cars valued at RM31 million and 12 high-powered motorcycles valued at RM5 million, as well as five luxury watches, three bracelets and about RM30,000 in cash. Two personal bank accounts containing about RM2 million were frozen.

Nazir said he understood that an earlier MACC investigation into the investment had not identified any wrongdoing or misappropriation. He maintained that the RM10 million principal had been recovered in full, along with RM1.85 million in returns.