Company owner remanded in Malaysia's 1MDB probe released on bail

A Malaysian Anti-Corruption Commission spokesman said the commission had decided not to extend the remand order.
A Malaysian Anti-Corruption Commission spokesman said the commission had decided not to extend the remand order.PHOTO: BLOOMBERG

PUTRAJAYA (THE STAR/ASIA NEWS NETWORK) - The third individual to be hauled up by the special task force investigating the debt-laden 1Malaysia Development Berhad (1MDB) state investment company has been released on bail.

Magistrate Nik Isfahanie Tasnim Ab Rahman allowed the 28-year-old owner of a Kuala Lumpur-based trading company to be released on RM50,000 bail (S$18,000) with two guarantors.

His four-day remand expired Monday.

 

A Malaysian Anti-Corruption Commission (MACC) spokesman said the commission had decided not to extend the remand order as it had already taken the individual's statement.

The 28-year-old was the third of five people to be remanded by the special task force to assist in its probe on 1MDB.

He was detained on Thursday at the MACC headquarters and remanded on Friday.