. . for falsifying financial reports, falsifying compliance reports and falsifying annual reports between 2012 and 2016." The government has also frozen the accounts of nine individuals linked to the fund, including Safaruddin Mohd Tahir, who is believed to be the fund's owner.
In May 2016, Safaruddin Mohd Tahir was charged in the Sessions Court in Kota Kinabalu with 34 offences relating to the misappropriation of money to be used for the purchase of real estate in Kota Kinabalu. Safaruddin and another individual were then charged under the Sabah and Sarawak Building Societies Act for the same offence. On 9 July 2016, the two were charged with eight offences:
Misappropriating land and premises in Kota Kinabalu – one count;
Misappropriating property belonging to the Savings Deposit Insurance Fund – one count;
Using the funds for personal or business purposes, without approval from the fund – one count;
Using the funds for the purchase of land, properties and cars – one count;
Using the funds for purchase of goods and services for private or non-business purposes, without approval from the fund – one count;
Not filing annual returns and amendments – three counts;
Not submitting financial statements and compliance reports – three counts;
Misusing the funds for the purchase of real estate – two counts.
The Finance Minister had previously announced that the fund could potentially be closed down and replaced with the Deposit Guarantee Corporation (DGC) and that they had warned the fund board members, its directors and Safaruddin Mohd Tahir in September 2015 to improve their action. However, the state government also said that the fund was "not against the DGC" and that they were using the fund as a "temporary measure".
References
External links
Savings Deposit Insurance Fund official site
Category:1997 establishments in Malaysia
Category:Financial services companies established in 1997
Category:Government agencies established in 1997
Category:Insurance in Malaysia
Category:Privatisation in MalaysiaTrichlorovinylchloride
Trichlorovinylchloride, also known as trichloroacetaldehyde, is an organic compound with the formula CHCl3CHO. It is the simplest α,β-unsaturated carbonyl, i.e., an aldehyde substituted with three chlorine atoms. It is a reactive intermediate in the synthesis of many other α,β-uns
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