A source from the MACC said that the male suspect, in his 50s, was arrested around 4pm yesterday while giving a statement at the anti-graft agency’s headquarters in Putrajaya.

“Preliminary investigations suggest that RM75 million was channelled into a company owned by the suspect,” the source said.

The source also said the offence is believed to have occurred in 2012 and is linked to a RM400 million loan for a fibre network development project.

The MACC had launched a special operation codenamed Op Fibre on June 30.

As part of the operation, the anti-graft agency raided four separate locations, including the suspect’s residence and office in Selangor and Kuala Lumpur.

The MACC also froze 12 bank accounts, including personal and corporate accounts, with a combined value of approximately RM400,000.

The MACC’s special operations division senior director, Zamri Zainul Abidin, confirmed the arrest and said that the case is being investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Magistrate Irza Zulaikha Rohanuddin has granted a four-day remand order against the suspect, effective until July 6.