US authorities have indicted three senior officials linked to Telekom Malaysia for a vast alleged fraud scheme that diverted more than $20 million from the Malaysian group.
According to the US Department of Justice, the defendants Mohd Hafiz Lockman, Mohd Yuzaimi Yusof and Khanh Thuong Nguyen held senior positions within the company's US subsidiary.
US prosecutors allege that the three men used forged documents and falsified statements to embezzle company funds between July 2020 and February 2026. Authorities also accuse them of deceiving suppliers, business partners, auditors, and US-based supervisors.
In a statement, FBI Assistant Director James C. Barnacle Jr. denounced "a deliberate and calculated scheme to embezzle funds" designed to personally enrich the defendants through the falsification of corporate documents.
One of the suspects, Mohd Hafiz Lockman, was arrested at San Francisco airport. The other two surrendered to U.S. authorities last month. The three men now face multiple charges, including wire fraud, conspiracy, and aggravated identity theft.
This case highlights the risks of corruption and financial fraud in large international state-owned enterprises. It could also have significant consequences for the image and governance of Telekom Malaysia, a major player in the Malaysian telecommunications sector.
The U.S. Department of Justice is continuing its investigation to determine if other individuals or entities participated in the alleged scheme to embezzle funds.
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