KUALA LUMPUR, Jan 22 — The Malaysian Anti-Corruption Commission (MACC) has confirmed the arrest of a man bearing the title “Tan Sri”, suspected of running an investment scam that allegedly siphoned more than RM300 million from the public over the past two years, Harian Metro reported today.
MACC chief commissioner Tan Sri Azam Baki said the suspect, who is in his 60s, was picked up yesterday and remanded this morning at the Putrajaya Magistrates’ Court.
He was detained after presenting himself at the MACC office, while a woman in her 50s — a board director of the same investment company — had been arrested a day earlier.
“We received information that a Tan Sri in his 60s and a woman in her 50s, who sits on the board of an investment company, were involved in a large-scale investor fraud.
“Many investors have lost hundreds of millions of ringgit and we estimate the losses to be more than RM300 million over the past two years.
“The investment schemes run by the two suspects were varied, with promises of lucrative returns,” he said at a press conference during the “Cakna Rasuah: MACC with the Media” programme.
Azam added that the man has been remanded for four days as investigations continue.
