Former Malaysia finance minister Daim Zainuddin was charged on Monday (Jan 29) with failing to comply with a notice to declare his assets under the country’s anti-corruption laws, amid a crackdown on graft involving prominent political and business figures.
The assets are said to include 38 companies and 25 properties in Kuala Lumpur, Selangor, Pahang, Negeri Sembilan, Perak and Kedah, as well as several luxury vehicles including a Rolls Royce, three Mercedes Benz and a Jaguar.
Daim, a key ally of ex-prime minister Mahathir Mohamad, pleaded not guilty. If convicted, he faces a maximum jail term of five years and can be fined up to RM100,000 (US$20,000).
The 85-year-old, who served as finance minister from 1984 to 1991 and from 1999 to 2001, entered court on Monday in a wheelchair and his lawyer cited health issues when asking for bail.
“I understand the charge, pled not guilty and claim trial,” he said before Judge Azura Alwi.
He was allowed bail at RM280,000. Daim’s lawyer M Puravalen said that his client had kidney problems and was suffering from a minor stroke.
“He suffered from a fungal infection in his eyes, leading to the removal of one of them. He is practically homebound,” he added, also requesting that his client not be subject to additional bail conditions.
The proceedings were also attended by Daim’s family members including his wife, Na’imah Abdul Khalid, and Muar Member of Parliament Syed Saddiq Syed Abdul Rahman.
Malaysia Prime Minister Anwar Ibrahim, who campaigned on a reformist platform, has vowed to tackle high-level corruption but has faced accusations of using the country’s anti-graft agency to target political rivals. Anwar has said he does not interfere in the agency’s investigations.
After being charged, Daim said in a press conference that the current Malaysian administration “is abusing its powers, while betraying all the promises of reform”.
“I am not too bothered about my fate now, let Anwar throw everything at me,” he said.
“But I fear for the fate of my country.”
Daim was charged following an investigation by the MACC into the former minister based on information contained in the Pandora Papers – a massive leak of financial records in 2021 that revealed offshore assets held by politicians and public figures worldwide.
The MACC last month seized Ilham Tower, a 60-storey building in Malaysia’s capital Kuala Lumpur, as part of its probe into Daim.
Daim’s wife, Na’imah, was also charged in court last week for failing to disclose assets to the anti-corruption commission. The 66-year-old pleaded not guilty.
Daim has described the probe against him as a “political witch-hunt” led by the anti-graft agency and Anwar, who succeeded him as finance minister in 1991.
The MACC said last month it had acted independently according to the law when opening investigations against Daim in February 2023.
Anwar and Mahathir have been locked in a decades-long off-on rivalry that saw Anwar, a one-time protege of the elder statesman, jailed for sodomy and corruption, charges he said were politically motivated.
Anwar was pardoned and became prime minister in 2022, after more than two decades as an opposition leader, vowing to combat corruption and focus on the economy. (CNA)