MARA And M’sian Businessmen Linked To Melbourne Property Bribe: 12 Facts You Need To Know
According to an exclusive report by an Australian daily, about RM13.7 million worth of bribes are said to have been pocketed by high-ranking MARA officials in the corrupt Dudley House deal.
Cover image via The Sydney Morning Herald1. In 2013, Majlis Amanah Rakyat (MARA) bought Dudley International House, a 5-storey apartment block in Melbourne for A$22.5 million (RM65 million), allegedly with the Malaysian government's investment funds
Image via Overseas Student Living
2. However, according to an exclusive report from Australian daily The Age, the property was only worth A$17.8 million (RM51.4 million) as per its original asking price
Image via The Sydney Morning Herald
3. To uncover the mystery of the additional A$4.75 million (RM13.7 million), Fairfax Media – Australia's leading media company – launched an 8-month-long investigation, tracing suspicious money flows, court files, and corporate records across three continents
Image via ABC Australia
4. Dudley House was developed as a joint venture between Australians Chris Dimitriou and Peter Mills alongside Malaysian businessmen Yusof Gani and Abdul Azizi, who are reported to be 'Datuks'
5. Citing confidential documents, The Age alleges that the A$22.5 million Dudley House deal with MARA was brokered by Azizi's "Porche-loving" son Erwan via a network of contacts connected to the government institution
Image via The Age
6. The A$4.75 million is believed to have been laundered out of Australia and then paid as bribes in Malaysia to guarantee that funds would flow from the Malaysian government to buy the building
As the two Datuks' Australian manager Dennis Teen later explained in civil court proceedings lodged on behalf of the Dudley House creditors, **"If we didn't agree on the $4.75 million, we would not have the deal."**
7. The money is then said to have been wired to the bank account of a Singaporean shelf company, leading investigators to a young baker who directed them to "a Malaysian government agency" and several front companies who may be involved in the deal
8. It then emerged that one of such companies have been taken over by top officials of MARA's investment arm MARA Inc. – chairman Datuk Mohammad Lan bin Allani and chief executive Datuk Halim bin Rahman
9. Malaysians officials have also been implicated in the purchase of about A$80 million worth of Australian property through shelf companies based in tax havens such as Singapore and the British Virgin Islands
10. The dubious deal would have remained in the dark if not for John Bond, owner of a window and door company, who was never paid for his work on the construction of Dudley House.
"This deal has ripped off Australians and involves serious corruption but no one has been held to account," he said.
Tradesman John Bond who has recently gone into liquidation due to non-payment for services by a developer.
Image via Simon Schluter
11. About 150 creditors – including Bond and several builders – have suffered massive financial losses with some facing bankruptcy. Hopes of being paid were rekindled when the property's value rocketed, only to be instantly crushed after the company linked to the deal collapsed.
Image via Simon Schluter
