PETALING JAYA — A company director holding the prestigious “Datuk Seri” title was arrested by the Malaysian Anti-Corruption Commission (MACC) for allegedly laundering around RM75 million in connection with a major loan scam.
Sources reveal the suspect bribed the CEO of a bank RM8 million to approve a RM400 million loan for a fibre network development project, despite the company failing to meet necessary financing requirements. The project, which aimed to span 30,000 km and connect Southeast Asia, ultimately never materialized.
Investigations traced the RM400 million loan proceeds to multiple offshore accounts. Further scrutiny uncovered that the funds were funneled to a fictitious investment firm established in 2018, which purported to attract high-profile investors.
The arrest took place at the MACC headquarters in Putrajaya yesterday while the suspect was giving a statement. Authorities also conducted raids at four locations across Selangor and Kuala Lumpur, including the suspect’s residence and office.
Additionally, MACC froze 12 bank accounts—both personal and corporate—with a combined balance of approximately RM400,000.
MACC’s Senior Director of Special Operations, Zamri Zainul Abidin, confirmed the arrest and said investigations are ongoing under the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.
