The Malaysian Anti-Corruption Commission (MACC) has detained a man with the title 'Datuk', who is a trustee of a foundation with bumiputera interests, on suspicion of abusing his position for personal gain.

The 70-year-old suspect was detained in George Town, Penang, at 8.30 last night.

According to a source, the suspect's activities were believed to have incurred millions of ringgit to a subsidiary company of the foundation in the past few years.

"The suspect, who is also a businessman, had sold land belonging to a subsidiary company of the foundation without going through the processes and procedures stipulated by the foundation's subsidiary company.

"In addition, the suspect, who is a trustee and director of the foundation's subsidiary company, had made decisions to sell the pieces of land without the knowledge of the board members of the foundation's subsidiary company," the source told Bernama.

He said the suspect had sold land belonging to the foundation's subsidiary to a company in which he had an interest, at a price which was much lower than the original price.

"After the land had been successfully sold at a price that was much lower than the market price, without the knowledge of the members of the board, the suspect would receive bribes as rewards from the companies that had bought the land.

"The suspect would receive at least one percent of the value of the land sold, as a reward," he said.

According to the source, the MACC was now in the process of scrutinising the documents seized from the suspect's office in Penang to assist investigation into the case.

MACC deputy chief commissioner (operations) Azam Baki when contacted by Bernama confirmed the arrest but declined to make further comment.

Azam said a remand order against the suspect would be applied for at a Magistrate's Court in George Town today.

- Bernama