Gobind: Did Securities Commission refer its findings on Azam Baki to the attorney general?

KUALA LUMPUR, Jan 19 — Selangor DAP chairman Gobind Singh Deo today questioned the Securities Commission Malaysia (SC) if it had passed the results of its investigation into Tan Sri Azam Baki to the attorney general (AG) for legal consideration.

Gobind who is also Puchong MP said that while Section 25(4) of the Securities Central Depository Act 1991 (SICDA) deals with securities accounts, it is the AG who decides whether to prosecute or not.

“The power to institute, conduct or discontinue proceedings for an offence in this country is with the attorney general,” he said in a statement.

He said this power is laid down in Article 145 of the Federal Constitution.

“It is not uncommon for the attorney general after looking at findings in an investigation, to offer views and/or direct further investigations into the matter,” the veteran lawyer said.

Gobind said he had previously expressed concern that the MACC was also conducting its own investigations on certain people in the SC and questioned if it the SC’s findings in light of the current circumstances surrounding Azam as the Malaysian Anti-Corruption Commission (MACC) chief, “would be proper”.

“The attorney general cannot and must not be silent on this matter. He must, as Public Prosecutor, explain.

“Did he study the findings made in the inquiry and decide on it? If he did not, did the SC have the power to conclude the matter as it did without prior reference to him?” Gobind asked.

The SC yesterday said it has finished its investigations concerning the acquisition of public shares by Azam and found no conclusive evidence of wrongdoing.

In response, Azam expressed his gratitude to the SC and said he will be continuing with his MACC work as usual.

The stock trading scrutiny on Azam intensified after he admitted in a press conference earlier this month that he had allowed his younger brother, Nasir Baki, to use his stock trading account to buy millions worth of shares in two public-listed companies back in 2015.

Azam denied any wrongdoing, saying the amount has since been transferred to Nasir’s account. However, he has not explained publicly why Nasir had to use his account to buy those shares.

On January 8, Azam said he was ready for his alleged misconduct case to be referred to the MACC’s Complaints Committee.

Last Monday, it was reported that the Parliamentary Select Committee (PSC) on Agencies under the Prime Minister’s Department meeting to discuss the MACC chief’s involvement with stock ownership has been postponed, following Azam’s refusal to meet its members. He had argued that he was already being investigated by the SC and the MACC Complaints Committee.