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Zahid used RM17.9 mil Akalbudi funds to buy Bali hotel for daughter, court hears
[Image: Ahmad_Zahid_Hamidi_-_oct_14_2021_-_bernama.jpg]

KUALA LUMPUR – The high court here was today told that Datuk Seri Ahmad Zahid Hamidi used RM17.9 million in Yayasan Akalbudi’s fixed deposit money to fund a boutique hotel purchase in Bali, Indonesia, for his daughter.

Deputy public prosecutor Datuk Raja Rozela Raja Toran said the former deputy prime minister’s eldest daughter Datuk Nurulhidayah Ahmad Zahid was interested in taking over shares of Ri-Yaz Asset Sdn Bhd and running the hotel, reported Bernama.

Raja Rozela said Zahid was entrusted with the funds for the specific purpose of eradicating poverty and raising the welfare of the poor, as well as conducting studies and research, through the charity foundation.

However, she said, he gave specific instructions to Affin Bank to withdraw all the monies from seven fixed deposit accounts belonging to Yayasan Akalbudi before transferring the sum via banker’s cheques to law firm Messrs Lewis & Co.

“Zahid then issued a cheque for RM8.6 million to Ri-Yaz Asset for the purpose of purchasing 60% of the shares from Ri-Yaz Asset chairman Tan Sri Rashid Manaf.

“The individual who was interested in buying the hotel is the accused’s daughter, and the matter was confirmed by Rashid and group managing director Datuk Seri Mohd Shaheen.”

[Image: Nurulhidayah_Ahmad_Zahid_INSTAGRAM.jpg]

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Zahid used RM17.9 mil Akalbudi funds to buy Bali hotel for daughter, court hears - by superadmin - 10-14-2021, 06:46 PM

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