Eric Chia | Malaysian tycoon, 75

Eric Chia, 75, a former steel tycoon with high political connections who was acquitted last year in Malaysia's biggest financial scandal, died Tuesday, news reports said.

He died after developing breathing difficulties, the Star newspaper said on its Web site.

Mr. Chia, who had close ties to Prime Minister Mahathir Mohamad's government in the 1990s, is one of the few high-profile figures to have been charged in court for graft since current Prime Minister Abdullah Ahmad Badawi took office in October 2003 and pledged to fix Malaysia's reputation for corruption and cronyism.

Mr. Chia was the managing director of Malaysia's top government-controlled steel company, Perwaja Steel Sdn. Bhd., when it nearly collapsed a decade ago under debts and losses exceeding $3 billion. He was charged with criminal breach of trust in February 2004 for allegedly misappropriating $22 million from Perwaja. But he was acquitted on June 26, 2007.

- AP