Malaysian Development Firm's Former Chief Arrested In Audit Report Tampering Case -Reports

Malaysian Development Firm's Former Chief Arrested in Audit Report Tampering Case -Reports

Arul Kanda Kandasamy, the former president and chief executive of the 1Malaysia Development Berhad (1MDB) group, was arrested in Kuala Lumpur on Tuesday on allegations of tampering of the 1MDB audit report, local media reported.

BANGKOK (Pakistan Point News / Sputnik - 11th December, 2018) Arul Kanda Kandasamy, the former president and chief executive of the 1Malaysia Development Berhad (1MDB) group, was arrested in Kuala Lumpur on Tuesday on allegations of tampering of the 1MDB audit report, local media reported.

Arul's lawyer Datuk Sivananthan confirmed that the former 1MDB president had been arrested by the Malaysian Anti-Corruption Commission (MACC) at 10:30 am local time (02:30 GMT), according to The Star online newspaper.

"They [MACC] will be producing him in court tomorrow (Wednesday) morning to be charged along with [former Malaysian Prime Minister] Datuk Seri Najib," Sivananthan told reporters, as quoted by the newspaper.

Najib was also arrested by the MACC on Monday for the alleged tampering of the final 1MDB audit report and was released on bail on the same day.

1MDB was founded in 2008 and is Malaysia's strategic development company, fully owned by the country's finance minister.