Zahid withdrew RM17.9m from Yayasan Akalbudi - witness

The High Court today was told that Umno president Ahmad Zahid Hamidi was involved in the withdrawal of RM17.9 million from Yayasan Akalbudi funds for the purchase of shares as well as to be placed as fixed deposits.

While showing the flow chart of the withdrawal to the court, MACC investigating officer Muhammad Fazli Zulkifli explained that of the amount, RM8.6 million was paid to Ri-Yaz Assets Sdn Bhd as a deposit for a share purchase with another RM9.3 million to be placed as fixed deposits.

“The withdrawal of money from Yayasan Akalbudi’s Affin Bank account to be transferred to a Maybank account belonging to Messrs Lewis & Co...