KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - The Malaysian Anti-Corruption Commission (MACC) has cleared Economic Affairs Minister Azmin Ali of any wrongdoing following allegations that he was behind questionable money transfers.

MACC deputy chief commissioner Azam Baki said investigations were conducted immediately after a report was lodged by Umno supreme council member Lokman Noor Adam earlier this month.

MACC investigations found that an alleged transfer of US$741,440 (S$1 million) from engineering giant UEM Group Berhad into a bank account bearing the same name as Datuk Seri Azmin did not exist, the Malay Mail reported on Wednesday (June 26).

"During the course of investigations over Lokman's report, we discovered that the transaction between the accounts and the accounts themselves did not exist," the portal quoted Datuk Seri Azam as saying at the Kuala Lumpur Court Complex.

"Moreover, Maybank and UEM have already issued statements over the matter on the non-existent accounts and transactions."

Mr Azam said MACC investigations also found there was no so-called Deutsche Bank account in Mr Azmin's name that was allegedly opened in September 2012.

The allegations were part of the sex video implicating Mr Azmin that went viral earlier this month.

Former deputy minister's aide Haziq Aziz confessed to being one of the men in the video, and claimed that the other man is Mr Azmin.

Mr Azmin has denied any involvement in the sex video and called it a nefarious plot to destroy his political career.