MACC seizes RM9.7 mln in assets in probe into nearly RM300 mln investment fraud

KUALA LUMPUR (Jan 25): The Malaysian Anti-Corruption Commission (MACC) has so far seized assets worth RM9.7 million in connection with an investigation into the alleged misappropriation of nearly RM300 million in investment funds linked to an individual with the title Tan Sri.

According to sources, the seized assets include six houses valued at RM6.54 million, a plot of land worth RM1.8 million and two luxury vehicles valued at RM1.35 million.

“In addition, 14 bank accounts have also been seized to assist in the investigation, although the total value involved is still being verified by the respective banks,” the sources said.

Sources further disclosed that a female individual with the title Datuk, who had previously been remanded for five days, was released on bail at 2 pm yesterday. Meanwhile, an individual with the title Tan Sri, who had been remanded since Jan 22, was released at noon today.

MACC chief commissioner Tan Sri Azam Baki, when contacted, confirmed the developments in the case and said that so far, statements have been recorded from 10 witnesses to facilitate the investigation.

“The MACC is actively tracking down other witnesses to help complete the investigation into the case,” he said, adding that the commission remains committed to concluding investigations involving public interest as expeditiously as possible.

Yesterday, the MACC was reported to have opened two investigation papers into the alleged misappropriation of investment funds amounting to nearly RM300 million, which were believed to have been collected between 2021 and 2024 from about 1,700 investors for investment purposes in two companies.

Initial investigations revealed that the funds collected were believed to have been misappropriated and used for purposes other than those stipulated in the agreements with investors.

According to sources, the individual with the title Tan Sri is suspected of exploiting his position and influence to attract public interest and persuade investors to participate in the scheme.

Azam said the investigation is also focusing on tracing the flow of the misappropriated funds for recovery purposes, with the involvement of experts from the MACC Financial Analysis Division and the Anti-Money Laundering Division.

Last Wednesday, a Tan Sri in his 60s, who is also the owner of a company and an expert in Islamic finance, was arrested after arriving to record a statement at the MACC headquarters in Putrajaya. – Bernama