Behind Bar - Who in Protasco Bhd is going in?

Protasco Bhd's fraudulent activities got heated up inside MACC. Who is the key suspects in the latest graft money laundering probe?富达公司偷钱嫌疑鬼鬼祟祟过街老鼠，打?

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Publish date: Mon, 18 Mar 2019, 01:06 PM
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Royalty Free Photo from newspaper. https://hochunfuat.law.blog/

17 March 2019, Putrajaya, Malaysia : Troubled Protasco Bhd (5070) which saw another 3 more lawsuits by the road maintenance contract raider is once again under MACC (SPRM) list for JKR road maintenance contract probe. Protasco Bhd ever since the illegal power stolen by Chong Ket Pen, becomes a money stripping machine, as well as factory for lawsuits to facilitate Chongs' money looting campaigns.

One man stands out in assisting the suspect crime to take place, especially in suspect money (laundering) matters. Chong Ket Pen's hired professional traitor and suspected serial criminal - Ho Chun Fuat.

 

Who is Ho Chun Fuat?

Ho Chun Fuat joined Protasco Bhd in the year 2013 and had cover up Chong Ket Pen suspected fraud and money laundering activities from the year 2014-2019. Acting as the key person which twisted Protasco Bhd books to use financially engineered accounts to raise bank borrowings and taken money out of the public listed entity as part of money stripping scam, where big chunk of the cash landed in Chong Ket Pen's own pocket, Ho Chun Fuat becomes the prime suspect of series of fraud, defraud, money laundering and criminal activities inside Protasco Bhd.

Press Royalty Free Stock Photo. Ho Chun Fuat, Protasco Bhd's key suspect in fraud and money laundering.

 

MACC "by pass" the main culprit Protasco Bhd on Menuju Asas probe?

On 16 January 2019, former Tabung Haji (TH) chairman Azeez Abdul Rahim claimed trial at the Sessions Court here today to 12 charges of corruption and money laundering in government projects.
 
Datuk Seri Abdul Azeez Abdul Rahim and the contractor named in the MACC probe are involved in the illegal obtained of road projects, which gave another road project raider Protasco Bhd (bursa 5070) a headwind of what is coming to one of the largest public money laundry shops. The long-anticipated probe into Protasco Bhd, which is suspected involved in corruption and ill-gotten government contracts especially before the last General Election, might just be around the corner.
 
Azeez was slapped with three charges of accepting bribes worth RM5.2 million under Section 16 of the Malaysian Anti-Corruption Commission (MACC) Act, and nine for money laundering amounting to RM139.34 million under Section 4 (1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
 
He was accused of receiving RM5.2 million from Mohammad Redzuan Mohanan Abdullah, the director of Syarikat Menuju Asas Sdn Bhd, in the Klang Valley between December 2010 and April last year.
 
The money allegedly paid to Azeez was said to be an inducement to allow Menuju Asas to obtain RM842.3 million worth of road upgrade projects in Kedah and Perak through direct negotiations.
 
On the other hand, Protasco Bhd was awarded an RM4.2 billion road maintenance contract on April 2018, a month before May 2018 General Election. Dato Seri Chong Ket Pen is the Executive Director cum major shareholder of Protasco Bhd which regained his full power and board control in November 2014 after he gained half control of the company on November 2012, which is 4 months after he lost both his power and board control between June 2012 - October 2012, according to Bursa Malaysia public announcement.
 
Was there any business or co-relationship between Menuju Asas Sdn Bhd, Mohammad Redzuan Mohanan Abdullah, Protasco Bhd, and of cause Chong Ket Pen in these dodgy dealings? Perhaps MACC could provide the answer very soon.
 
Press Royalty Free Stock Photo. Ho Chun Fuat, Protasco Bhd's key suspect in fraud and money laundering.
 

 

What is Ho Chun Fuat's role in the RM4.2 billion JKR contract corruption probe?

 
As the Chief Finance Officer (CFO) of Protasco Bhd, if Ho Chun Fuat can lie, cheat and forge documents for Chong Ket Pen to defraud and launder money from Protasco Bhd straight to Chong Ket Pen's own pocket, what else Ho Chun Fuat don't dare to do?
 
Perhaps the RM66 million missing cash on Protasco Bhd's March 2018 quarterly reports would be answerable by Ho Chun Fuat, coincidentally Protasco Bhd got awarded the RM4.2 billion JKR contract on 4th April 2018, a month before General Election (GE-14). These money matters, guess who is responsible to sign off, carry, wash, and paid off secretly? If there is graft involved.
 
Do you think there is corruption involved in this "largest public looting" money laundering machine called Protasco Bhd? Who took the money, maybe the media can ask Ho Chun Fuat instead of Chong Ket Pen.
 
 
Press Royalty Free Stock Photo. Ho Chun Fuat, Protasco Bhd's key suspect in fraud and money laundering.
 
 
 
If you think the money stripping exercise stop at MACC level, look no further than the "up coming" RM48.6 million cash payment to be paid by Protasco Bhd to.... guess who? You are correct! The questionable shareholder cum Group Managing Director Chong Ket Pen. The piece of (pathetic) land in Tampin is owned by Chong Ket Pen, his wfie Ho Chit Neo, and 3 of his sons Kenny Chong Ther Nen, Benny Chong Ther Vern, and Denny Chong Ther Shern, where 3 of the young punk are also planted inside Protasco Bhd by the (thief) father to tightly control in order to loot money out of public listed company Protasco Bhd.
 
Thanks to Ho Chun Fuat, the ill-gotten money could be paid to the Chongs with Bursa Malaysia and Securities Commission pretending never saw the suspected robbery going on. The 74 year old well-paid Chairman of Protasco Bhd Hadenan Abdul Jalil seems to be the perfect advisor for MACC to "advice on money laundering and corruption". Of cause, all (graft) money must pass through Ho Chun Fuat's hand under his master Chong's instruction.
 
With another RM48.6 million to be taken from bank borrowing to pay Chong Ket Pen, how would Ho Chun Fuat not be the focus of MACC (SPRM) in the series of dubious dealings inside Protasco Bhd? 
 
If your money paid to IRB (Malaysia Tax Department), and the money anded in JKR (work ministry), which later paid to Protasco (for the RM4.2 billion dubious road maintenance contract), and entually your cash stolen by Chong Ket Pen with the help of Ho Chun Fuat, do you have questions for Mr. Ho?
 
 
 
Probe on JKR Corruption Report
 
More articles on Behind Bar - Who in Protasco Bhd is going in?
富达公司(Protasco Bhd 5070)父唱子随马币4千8百6十万抢钱戏5月干案没人管？父盗子骗审判日，父子同日看守所里“相见” ？希盟腐败依然？

Created by behindbar | Mar 19, 2019

Discussions
Be the first to like this. Showing 3 of 3 comments

CrimeHead

Report bursa and SC lor. Even it's useless, at least done your duty as a citizen of Malaysia.

2019-03-18 13:32

protascostaff

Want to catch, catch Ho. He stolen. Chong Ket Pen is innocent. He only "took".

2019-03-18 13:45

speakup

Tangkap!
Penjara!
& Sebat!

2019-03-18 22:22

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