PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has thwarted a syndicate involved in corruption and money laundering activities, allowing public servants with bad debts to secure personal loans from local banking institutions.
Chief Commissioner Tan Sri Azam Baki said the MACC Anti-Money Laundering Division carried out the concerted effort with Bank Negara Malaysia and local financial institutions under ‘Ops Sky,‘ which led to the arrest of 12 individuals yesterday.
He said initial investigations revealed that several officers at banking institutions received bribes from financial consultancy firms in exchange for facilitating processing and approving personal loans for clients.
“The bank officers identified the clients, primarily public servants with bad debts and introduced them to financial consultancy firms offering multiple-loan schemes,“ he said in a statement today.
Azam said they believe that the firms also provided documents containing false information that were submitted to several financial institutions to secure loans.
Elaborating, he said the financial consultancy firms were also found to have advanced money to borrowers to settle their old debts, requiring them to pay the advance once the loans were approved, adding that the remaining loan amount was invested in an investment scheme.
Azam said MACC has frozen 70 company and individual accounts with a total value of over RM16.2 million, seized nine vehicles, over RM300,000 of cash, 17 pieces of luxury watches valued at RM11.1 million and five branded handbags worth over RM430,000.
He added that 10 male and two female suspects aged between 20 and 30 have been placed under a five-day remand following MACC’s application submitted to the Putrajaya Magistrate’s Court this morning.
The case is being investigated under Section 16 of the MACC Act 2009.
