On January 29, 2024, Abdul Daim bin Zainuddin, an 85-year-old former Minister of Finance, was charged by the Malaysian Court for failing to comply with a notice to declare assets under the country’s anti-corruption laws.

To know more: https://www.fcctimes.com/2024/01/29/malaysia-charges-former-finance-minister-in-anti-corruption-crackdown/?utm_source=WebsiteText&utm_medium=FCCPoI31Dec 

Daim Zainuddin, a key ally of former Prime Minister Mahathir Mohamad, served as finance minister from 1984 to 1991 and from 1999 to 2001.

In May 2023, the Malaysian Anti-Corruption Commission (MACC) initiated an investigation into the alleged embezzlement of RM2.3 billion ($500 million) in state funds, as exposed in the Pandora Papers in 2021. Daim was among nine Malaysians revealed to hold millions of dollars offshore in the Pandora Papers—a substantial leak of financial records of politicians and public figures globally.

On December 21, 2023, the MACC seized Ilham Tower, a 60-storey building in Malaysia’s capital, Kuala Lumpur, as part of its probe against Daim. Daim’s wife, Na’imah Abdul Khalid, was also charged in court last week for failing to disclose assets to the anti-corruption commission.

Daim pleaded not guilty to a charge of failing to declare 71 assets, including 38 companies, 25 properties, and several luxury cars. If convicted, Daim faces a maximum jail term of five years and can be fined up to 100,000 ringgit ($21,159.54).