The United States has charged three senior employees of Telekom Malaysia over allegations that they misappropriated more than US$20 million, equivalent to RM79.5 million, from the state-linked telecommunications firm.
According to the US Department of Justice, Hafiz Lockman, Yuzaimi Yusof and Khanh Thuong Nguyen were senior executives at TM’s US subsidiary.
Authorities alleged that between July 2020 and February 2026, the trio used false statements and forged records to siphon company funds while misleading counterparties, suppliers, auditors and supervisors in the United States.
Alleged embezzlement scheme
“These three individuals are alleged to have carried out a deliberate and calculated embezzlement scheme, falsifying corporate records for their own financial gain,” FBI assistant director in charge James C Barnacle Jr said in a statement.
Hafiz was arrested at San Francisco International Airport, while Yuzaimi and Nguyen surrendered to authorities last month.
The Department of Justice said the three had been charged with wire fraud conspiracy, wire fraud and aggravated identity theft.
The accused and Telekom Malaysia could not immediately be reached for comment.
TM cooperated with authorities
The Department of Justice said it decided not to pursue charges against Telekom Malaysia after the company self-reported the alleged misconduct and pledged cooperation with investigators.
Reuters had previously reported in March that the department was introducing a policy aimed at encouraging companies to voluntarily disclose criminal wrongdoing in exchange for reduced penalties and other benefits.
According to the US indictment, the defendants allegedly diverted millions of dollars from TM into bank accounts under their control.
Allegations include forged transactions and impersonation
In one case, TM was reportedly asked to approve the sale of eight terabytes of capacity to a US multinational company for US$54 million, or RM214.7 million, although only six terabytes had actually been purchased.
Authorities alleged the remaining excess capacity was sold to other companies, with proceeds channelled through a shell entity.
The trio were also accused of inflating cable purchase costs and redirecting nearly US$2.9 million, equivalent to RM11.5 million, into accounts they controlled, in addition to submitting fabricated work expense claims.
The Department of Justice further alleged that the three impersonated employees and interns to collect salaries and, in one instance, used an AI-assisted impersonation tool to deceive human resources personnel.
