KUALA LUMPUR, July 22 — PKR deputy president Rafizi Ramli said the information in Bank Pembangunan Malaysia Bhd’s (BPMB) lawsuit against former officials should have triggered a Malaysian Anti-Corruption Commission (MACC) investigation years ago.

He also questioned why the bank needed to sue to try and recover an estimated RM1.5 billion in dubious loans issued to firms he alleged were connected to former prime minister Datuk Seri Najib Razak, saying there was a surfeit of evidence for the MACC to act.

The former Pandan MP said he had raised allegations about the dubious loans as far back as 2013 and said the commission should have begun investigations then rather than wait for formal reports.

"I sympathise with the management of BPMB as they need to proceed with civil suit to get back the public funds because there seems to be no action from the MACC.

"The new management of BPMB appears to be proactive in taking the path of civil suit by suing and freezing the assets of the former CEO of BPMB (at the time) and 26 other individuals and companies accused of misappropriating RM400 million in loans to Aries Telecom,” he said in a statement.

BPMB is suing 27 individuals and entities, including its former president and group managing director Datuk Mohd Zafer Hashim, over a RM400 million loan granted to Aries Telecoms (M) Bhd a decade ago.

Local business newspaper The Edge reported today that BPMB is seeking a total of RM564.99 million in losses and damages supposedly caused by 27 people named as defendants.

BPMB is accusing the 27 defendants of conspiring and using unlawful means to not only defraud the bank, but concealing such fraud and its proceeds. It further claimed the loan was disbursed to Aries without fulfilling necessary conditions.

BPMB also alleged that the money meant for a fibre optic project was misused, and "siphoned and/or unjustifiably transferred” to other entities including Paneagle Holdings Bhd, BVS Trinity Sdn Bhd, VCB Malaysia Bhd, Orient Telecoms Sdn Bhd and Primawin Ltd — all of whom it named as defendants in the suit.

Today, Rafizi said the MACC’s continued inaction despite the evidence presented in BPMB’s civil suit meant it was inescapable that there would be public perception of widespread corruption in the country.

"That's why if I were Azam Baki, I would have resigned,” he said,.

Yesterday, MACC chief commissioner Tan Sri Azam Baki sought to downplay Malaysia’s performance in the global Corruption Perception Index, saying the result was not indicative of the actual situation in the country.