PUTRAJAYA (Jan 24): The Malaysian Anti-Corruption Commission (MACC) has opened two investigation papers into the alleged misappropriation of nearly RM300 million in investment funds linked to an individual with the title Tan Sri. According to sources, the MACC arrested two individuals and conducted searches at five premises in Klang Valley on Wednesday and Thursday to assist in the probe. The Tan Sri involved is alleged to have used his position and influence to attract and influence the public to invest in the scheme. Meanwhile, MACC Chief Commissioner Tan Sri Azam Baki confirmed that the investigation is currently focusing on tracing the flow of the misappropriated funds for recovery. Media reports previously stated that MACC obtained a four-day remand order, effective on Friday, against the Tan Sri in question at the Putrajaya Court to facilitate further investigations.

Source: The Edge Markets January 24, 2026 04:00 UTC