Felcra applied to use RM150 mil from retirement fund to buy unit trusts, court told

Bung Moktar and his wife, actress Zizie Ezette A Samad, face charges of receiving bribes from two Public Mutual unit trust investment agents.

“The application needs to be made, but whether it will be approved or not is the prerogative of the MoF,” he said during the examination-in-chief by deputy public prosecutor Roslan Mat Nor on the third day of the corruption case trial of Bung Moktar and his wife, actress Zizie Ezette A Samad. According to the first charge, Bung, who was at that time the non-executive chairman of Felcra, was charged with taking a bribe of RM2.2 million from Public Mutual investment agent Madhi Abdul Hamid, 38, through his wife, Zizie Ezette.He was accused of committing the offence as an inducement to obtain approval from the second finance minister for Felcra to invest RM150 million in Public Mutual unit trust products.

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