KUALA LUMPUR, May 8 — The Malaysian Anti-Corruption Commission (MACC) has initiated an investigation into a prominent corporate figure bearing the title "Tan Sri" for suspected involvement in money laundering linked to the ownership of shares worth over RM500 million in an oil and gas company.
According to a source, the probe also focuses on elements of corruption involving several investments following the merger of two of the company’s subsidiaries.
"Raids have been conducted at several locations, including the company’s premises and the individual’s residence in Selangor and Kuala Lumpur.
"The Tan Sri was summoned to the MACC headquarters for questioning on May 5 and May 6 to assist in the investigation. No arrests have been made as of now," it said in a statement today.
The investigation also examines possible offences involving criminal breach of trust, misappropriation of funds, and falsification under the Penal Code.
However, the main focus is on abuse of power under Section 23 of the MACC Act 2009 concerning remuneration (salary, bonuses, and shares), branding fees and private placements between 2012 and 2021.
"Eighty-three bank accounts belonging to five individuals and 15 companies, involving approximately RM158.26 million, have been frozen in connection with the probe.
"A governance audit investigation will also be carried out," the source said.
— Bernama
