KUALA LUMPUR – A man with the title ‘Tan Sri’ was arrested by the Malaysian Anti-Corruption Commission (MACC) on suspicion of defrauding investors of an estimated RM300 million over the past two years.
MACC Chief Commissioner Tan Sri Azam Baki confirmed the arrest, stating that the suspect, in his 60s, was apprehended yesterday. The individual, a private company owner and an Islamic finance expert, was detained upon his arrival at the MACC headquarters in Putrajaya.
Azam revealed that the MACC had obtained a four-day remand order for the suspect following a court session in Putrajaya earlier today, to facilitate further investigation.
“We received information suggesting that the ‘Tan Sri’, aged in his 60s, and a woman in her 50s, who serves as a director on the board of an investment firm, are suspected of being involved in a large-scale investment scam,” he told the press during the MACC’s ‘Cakna Rasuah: MACC Bersama Media’ programme in Kota Bharu today.
“Numerous investors from across the country have reportedly lost hundreds of millions of ringgit. We estimate that losses incurred by investors have exceeded RM300 million over the past two years.”
The fraudulent investment scheme, believed to have been masterminded by the two suspects, offered high returns and involved various types of investments, Azam added.
MACC underscored the severity of this scam, warning of the grave threat posed by such fraudulent investment syndicates to both the public and the nation’s economy.
In light of this, Azam urged the public to remain cautious and avoid falling prey to such deceptive schemes that ultimately lead to significant financial loss. – January 22, 2026