Azam Baki ‘grateful’ SC has cleared him
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AZAM Baki today expressed his gratitude after he was cleared of any wrongdoing by the Securities Commission (SC) on allegations that he breached the law by allowing his brother to use his trading account.
Earlier today, the SC said it was unable to determine if the Malaysian Anti-Corruption Commission (MACC) chief had breached any rules in the allegation.
“I am grateful for the decision made by the SC who found that I did not commit any wrongdoing.
“I was informed by the SC that the investigation against me has concluded. Therefore, the regulator has closed the files on the investigation.
“I will continue my duties as the MACC chief commissioner to eradicate corruption in the country,” Azam said in a statement.
The SC said its investigations have ended but based on evidence gathered, it was “not able to conclusively establish that a breach under section 25(4) of the Securities Industry (Central Depositories) Act 1991 has occurred”.
Section 25 stipulates that every securities account opened with a central depository must be in the name of the beneficial owner of the deposited securities or an authorised nominee.
Azam was said to own 2.15 million shares in Excel Force MSC Bhd in 2015, as well as 1.93 million shares in Gets Global Bhd the same year and 1.02 million shares the following year. He was the MACC director of investigations at the time.
Azam said he had informed his superiors about his brother’s purchase of shares in 2015, adding that no concern was raised.
Azam’s explanation satisfied MACC Anti-Corruption Advisory Board chairman Abu Zahar Ujang, who said the chief commissioner had done no wrong. – January 18, 2022.