PUTRAJAYA, Oct 7 (NNN-BERNAMA) — The Malaysian Anti-Corruption Commission (MACC) has issued compound notices to 80 individuals and entities who had received money totalling RM420 million, believed to have originated from 1Malaysia Development Bhd (1MDB).
MACC chief commissioner Latheefa Koya said those served with the compound notices under Section 92(1) of the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA) 2001 have been given two weeks to return the money.
Latheefa said MACC had opened investigation papers on the 80 individuals and entities who received the notices so that they would take it seriously and pay up.
She said the individuals received as low as RM500,000 to as high as RM25 million, while the entities received up to RM134 million.
“The fine will be as low as the amount they have received or as high as 2.5 times of the amount they received. We hope to recover as much as we can.
“It’s up to them to pay the fine, failing which, we will use the full authority of the powers that were given within the act to take the necessary action,” she told a press conference here today.