More NFCorp directors to be charged
Ongoing Saga: Other NFCorp directors implicated in scandal
(NST) The probe into the National Feedlot Corporation debacle is expected to unearth more alleged improprieties involving high-ranking individuals.
The New Straits Times has learnt that more will be charged as the investigation into other areas of the case deepens.
A source said two of the three government appointees on the NFCorp board, who hold the positions by virtue of the government having a golden share in the company, may be implicated in the scandal.
They may be charged with contravening Section 132 of the Companies Act 1965 (directors’ fiduciary duties and duties of care and skills) for negligence. One of the company’s top management official might also be hauled up to court for alleged criminal breach of trust.
The NST learnt he was being investigated for allegedly allowing company funds to be channelled into private companies unrelated to NFCorp but owned by its directors.
A ttorney-General Tan Sri Abdul Gani Patail would only say: “The NFCorp case is far from over.”
The source also disclosed that NFCorp chairman Datuk Seri Dr Mohamed Salleh Ismail, who is facing two counts of CBT and another two for violations of the Companies Act, and Datuk Shamsulbahrin Ismail, were also being investigated under the Malaysian Anti-Corruption Commission Act 2009. Shamsulbahrin, who is CEO of Shamsubalhrin Ismail Resources Sdn Bhd and who had been appointed as a consultant for Salleh, is facing charges of cheating the latter of RM1.755 million. MACC investigators were wrapping up probes into both their alleged acts of corruption.
Salleh was charged with using RM9,758,140 of NFCorp funds to purchase two condominium units at the One Menerung complex in Bangsar for the National Meat and Livestock Corporation on Dec 1 and Dec 4, 2009.
The 64-year-old was also charged with transferring RM40 million of NFCorp funds to the National Meat and Livestock Corporation between May 6 and Nov 16, 2009.
He is also charged with using the funds without the approval of the NFCorp’s annual general meeting.
He faces no less than two years’ and no more than 20 years’ imprisonment with whipping and a fine for the offences.
He also faces a five-year jail term or RM30,000 fine for the offences under the Companies Act.
In December 2007, the government approved a RM250 million soft loan to enable NFCorp to start a feedlot centre in Gemas, Negri Sembilan.
Salleh is Women, Family and Community Development Minister Datuk Seri Shahrizat Abdul Jalil’s husband, and their children are on the board of directors.
The NFCorp controversy unfolded after the 2010 Auditor-General’s Report said the RM250 million National Feedlot Centre cattle-breeding project, which it runs, had not met the targets set by the government.
Following this, allegations that the company had abused some of the money from the loan to purchase condominiums in Bangsar and property in Putrajaya surfaced, and reports were lodged with the MACC and police.
