KUALA LUMPUR, The Malaysian Anti-Corruption Commission (MACC) arrested three individuals, including a group chief executive officer (GCEO), for suspected misappropriation of RM1.5 million in funds belonging to a publicly listed company. According to a MACC source, all three suspects were detained from around 7 pm to 9 pm yesterday when they appeared to testify at the Putrajaya MACC office regarding irregularities involving construction and mining projects worth about RM80 million. 'Preliminary investigations found that all the suspects were also believed to be involved in establishing a company that was not approved by the board of directors for the purpose of carrying out a collaborative project worth about RM258 million. 'In addition, they are also suspected of being involved in embezzling property rental collection fund belonging to the company worth approximately RM3 million,' said the source. A remand order or four days until Aug 12 was served on two suspects, a man and a woman aged between 40 and 5 0, by Magistrate Irza Zulaikha Rohanuddin after MACC made an application at the Putrajaya Magistrate's Court this morning. Meanwhile, MACC Senior Director of Investigations Datuk Seri Hishamuddin Hashim, when contacted, confirmed the arrests and said the case was being investigated under Section 16(a)(A) of the MACC Act 2009. Source: BERNAMA News Agency