KUALA LUMPUR, Malaysia - Former Malaysian Finance Minister Daim Zainuddin has been charged with failing to declare assets, as part of an ongoing corruption investigation linked to former Prime Minister Mahathir Mohamed. Both Daim and Mahathir argue that the probe is politically motivated, accusing prosecutors of disregarding potential corruption within the current government.
The 85-year-old Daim, a key ally of Mahathir, appeared in court in a wheelchair after his recent discharge from the hospital. He pleaded not guilty to the charge of failing to declare 71 assets, including luxury cars, various companies, properties, and land. If found guilty, he could face up to five years in jail and a fine.
Following his court hearing, Daim criticized Prime Minister Anwar Ibrahim, whom he called 'a wolf in sheep's clothing who cried reforms' but allegedly abused government institutions to target political opponents. Daim pointed to the case of Deputy Prime Minister Ahmad Zahid Hamidi, who faced corruption charges but had 47 of them dropped last year. Expressing concern for the fate of his country, Daim said, 'I am not too bothered about my fate now. Let Anwar throw everything at me.'
Last week, Daim's wife also pleaded not guilty to a similar charge. Daim, one of Malaysia's wealthiest tycoons, maintains that his offshore assets are the result of legitimate business activities and investments. He served as Finance Minister under Mahathir from 1984 to 1989, and again from 1999 to 2001.
Daim and Mahathir's eldest son, Mirzan Mahathir, were among a group of Malaysians disclosed to hold offshore accounts in the recent Pandora Papers leak, which exposed the offshore activities of politicians and billionaires globally. The country's anti-graft agency has called on Mirzan and his brother Mokhzani to declare their assets.
Mahathir, who was Malaysia's longest-serving leader, holding office for a total of 22 years, now supports the opposition Malay-Islamic alliance. The 98-year-old politician believes that Anwar is seeking evidence to implicate him. Mahathir and Anwar have a complex history that has greatly influenced Malaysian politics. Anwar was initially chosen by Mahathir as his successor in the 1990s but later faced allegations of corruption and sodomy, charges he claimed were fabricated to destroy his political career.
In the 2018 general elections, Mahathir and Anwar joined forces to topple the long-ruling coalition, even as Anwar was serving a prison sentence for a second sodomy charge. After their victory, Anwar was granted a pardon by the king. However, their alliance eventually disintegrated due to internal conflicts and power struggles.
