CORPORATE figure Victor Chin Boon Long denied allegations that he was involved in a so-called “corporate mafia” to force company takeovers purportedly linked to officials from the Malaysian Anti-Corruption Commission (MACC).
In a statement today, he said he supports a Royal Commission of Inquiry (RCI) to investigate the claims, and he is confident such a probe would clear his name.
The current MMAG Holdings Bhd executive director acknowledged that so-called “mafia tactics” in corporate takeovers did exist, but insisted that he was a victim and never orchestrated such actions.
He claimed the label had been attached to him in media reports, blogs and online narratives over the past few years despite him denying involvement in any corporate wrongdoing.
“I am not a ‘Corporate Mafia’ that has been portrayed in media reports, blogs, and various online narratives over the past few years,” he said.
“I do not subscribe to or participate in any kind of 'corporate mafia' tactics that have been alleged to exist within certain parts of the corporate landscape in Malaysia,” Chin said.
Chin said the “corporate mafia” label had been linked to him only due to individuals or companies previously connected to him through shareholdings or business ties being later implicated in investigations by authorities.
"This is not due to my personal actions. In several cases, those shareholdings had already been disposed of long before the alleged wrongdoing took place,” he said.
He said the ongoing investigations had resulted in enforcement actions, including the reported freezing of more than 500 bank and stockbroking accounts linked to companies and investors.
Chin added that he would appoint solicitors to handle the allegations and provide them with the necessary documentation that he is also prepared to submit to enforcement agencies to prove his innocence.
“I want to emphasise that I am not only facing accusations but am also a victim of the same corporate mafia tactics being alleged,” he said.
On March 11, the Cabinet directed the police, Securities Commission (SC), MACC, and Inland Revenue Board to investigate claims that certain MACC officers had been involved in manoeuvres to force corporate takeovers.
On Feb 12, a Bloomberg report alleged the existence of a “corporate mafia” network involving MACC officers and businessmen targeting companies for takeover, with the officers providing intimidation “services”, including raids and investigations, to pressure executives of targeted companies into selling their shares.
It was also earlier reported that the police and the Securities Commission (SC) had carried out raids at properties linked to Chin.
Among the items seized were two vehicles, luxury watches, jewellery, cash in ringgit and other foreign currencies, along with documents considered relevant to the investigation. – March 16, 2026
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