MACC Freezes 14 Accounts Linked to RM300 Million Investment Fund

The Malaysian Anti-Corruption Commission (MACC) intensifies investigations into alleged misuse of funds involving a large-scale investment scheme.

PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has frozen 14 bank accounts containing funds linked to an estimated RM300 million investment scheme as part of an ongoing investigation into suspected corruption, abuse of power and financial misappropriation.

Sources said the accounts belong to several individuals and corporate entities believed to be connected to the management and operations of the investment fund. The move aims to prevent any potential transfer or concealment of assets while investigations are underway.

According to insiders, the probe focuses on allegations that a significant portion of the funds was channelled through complex financial transactions, raising suspicions of money laundering, breach of trust and improper use of investor capital.

“Freezing the accounts is a critical step to secure evidence and preserve assets that may be subject to forfeiture if wrongdoing is proven,” a source familiar with the investigation said.

The MACC is also examining financial records, contracts and internal documents related to the fund’s operations, including its investment strategies, procurement processes and relationships with third-party service providers.

Several individuals, including company directors, senior executives and intermediaries, are expected to be called in for questioning in the coming days to assist with the investigation.

Sources added that investigators are also tracking the flow of funds across multiple jurisdictions, following indications that some of the money may have been transferred overseas through layered transactions.

The case is being investigated under the MACC Act 2009 and other relevant financial crime laws, with authorities emphasising that no individual or entity will be shielded from scrutiny.

In a brief statement, MACC confirmed the freezing of the accounts and said the investigation is being carried out thoroughly and independently, in line with established legal procedures.

The commission urged members of the public who possess relevant information to come forward, assuring that all informants will be granted confidentiality and protection under the law.

The investigation into the RM300 million investment fund is among the most significant financial probes currently underway, highlighting the government’s intensified efforts to combat corruption, enhance financial transparency and protect public and investor interests.