Malaysia's former Finance Minister charged with corruption after Pandora Papers probe

Colombo (News 1st) - Malaysia's former Finance Minister Daim Zainuddin, a key ally of ex-prime minister Mahathir Mohamad, was on Monday (29th) charged with corruption after an investigation by the Malaysian Anti-Corruption Commission (MACC) into revelations from the Pandora Papers, Malaysian media reported.

Zainuddin was charged with failing to declare his assets, which are said to include 38 companies, 25 properties and a fleet of luxury vehicles that include a Rolls Royce, three Mercedes Benzes, and a Jaguar. Last month the MACC seized a 60-storey building in Kuala Lumpur, the Ilham Tower.
Zainuddin, who is 85, pleaded not guilty and was released on bail. If convicted, he faces up to five years in prison. He served as Finance Minister from 1984-91 and again from 1999-2001.
Malaysia’s current PM Anwar Ibrahim, a bitter rival of Mahathir, has vowed to crack down on corruption, but has been accused of using anti-corruption laws against political rivals.
Zainuddin was charged by MACC following an investigation into the Pandora Papers, a massive leak of financial records of politicians and public figures worldwide. Several Sri Lankan politicians were also named in the Pandora Papers, but none have ever been charged with any wrongdoing.