Yayasan Akalbudi corruption trial Ahmad Zahid Hamidi funds
Ahmad Zahid Hamidi

By Kasthuri Jeevendran

KUALA LUMPUR – The funds from Yayasan Akalbudi were withdrawn for many purposes, including paying football club, credit cards and car insurance.

Deputy Public Prosecutor, Datuk Raja Rozela Raja Toran said that 50 cheques from the foundation were issued for various purposes between 2014 and 2016.

Furthermore, Yayasan Akalbudi, founded by former Deputy Prime Minister, Datuk Seri Ahmad Zahid Hamidi had also made payments to two companies, he said.

“Besides the 50 cheques, RM17.9 million were taken from Yayasan Akalbudi and kept in seven accounts before they were transferred to legal firm, Lewis & Co.

“RM31 million have been misappropriated. The accused, who is also the former Home Minister had the ‘freedom’ to use the funds in the foundation,” he said before High Court Judge, Collin Lawrence Sequerah.

Ahmad Zahid, 69, is facing 47 counts of charges. 12 involved criminal breach of trust, eight counts of corruption and 27 counts of money-laundering involving illegally gained money from Yayasan Akalbudi.

Raja Rozela said that the funds spent were neither recorded in the Board of Directors Meeting not the Annual General Meeting (AGM).

“No record in AGM or BOD meeting approving the money spent.

“Former trustees of Yayasan Akalbudi were merely puppets. The truth is, Ahmad Zahid dominated the whole journey of Yayasan Akalbudi,” he said.

The court adjourned and will resume tomorrow. -MalaysiaGazette

Read More:

Zahid was never promised the immunity – Prosecutor

Drop all charges against Zahid – Defence Counsel