Australian Police Seize RM5 Million Worth Of Assets & Cash From Malaysian Accused Of Bribery

Australian authorities have confiscated property and cash amounting to AUD 1.6 million (about RM4.8 million) from a man accused of bribing a Malaysian official for the purchase of a multi-million dollar apartment complex in Melbourne in 2013. According to  Sydney Morning Herald, the property and funds belong to Australian real estate developer Teen Boon Lye, his wife and their private company.

Teen Boon Lye was accused of bribing Malaysian officials to secure the sale of the building known as Dudley House. He was charged on July 9, about 5 years after an investigation discovered that the price of the property had increased by AUD 4.75 million (about RM14 million) to bribe a group of Malaysian officials.

The original price of the Melbourne property was AUD 17.85 million (about RM53 million) but was later sold at AUD 22.6 million (about RM67.9 million), with AUD 4.75 million (about RM14 million) paid or pledged to certain individuals, including alleged individuals named Zach Zainal and Erwan Azizi, with intent to influence a Malaysian government official to guarantee the sale of the property.

Mara chairman Azizah Mohd Dun reportedly said she had handed it over to the Malaysian Anti-Corruption Commission to investigate the matter.

Also read: Australia Says Its Borders Will Likely Remain Closed Until 2021