THE Malaysian Anti-Corruption Commission (MACC) has confirmed the arrest of a man bearing the title Tan Sri over alleged large-scale investment fraud believed to involve losses exceeding RM300 million over the past two years.
MACC Chief Commissioner Tan Sri Azam Baki said the suspect, a man in his 60s, was detained yesterday and remanded this morning by the Putrajaya Magistrates’ Court.
He said the suspect was taken into custody after presenting himself at the MACC headquarters yesterday, while a female company director in her 50s was arrested earlier.
“We received information on a Tan Sri in his 60s and a woman in her 50s who is a member of the board of directors of an investment company, believed to be involved in large-scale investor fraud,” Azam said.
“Many investors have lost hundreds of millions of ringgit and we estimate the losses suffered by investors exceed RM300 million over the past two years,” he added.
Azam said the investment schemes allegedly orchestrated by the two suspects involved multiple ventures and promised unusually high returns to investors.
He was speaking at a press conference held in conjunction with the Cakna Rasuah: MACC Together with the Media programme in Kota Bharu.
According to Azam, the main suspect has been remanded for four days to facilitate further investigations.
“Therefore, I advise the public not to be easily enticed by investment activities that ultimately leave them bearing heavy losses,” he said. - January 22, 2026
.jpeg)
