KUALA LUMPUR – Hundreds of dummy companies were created by a money-laundering syndicate linked to the businesses of some local celebrities with the intent of deceiving the authorities, said Malaysian Anti-Corruption Commission chief Datuk Seri Azam Baki.
He said these firms were deliberately created to channel the syndicate’s illegally obtained funds.
“The modus operandi of these dummy companies is that when members of the syndicate receive money, they set up a business that seems legitimate to the public.
“This is where these dummy companies receive the money, which is channelled to several parties, such as traders, to do business in cash. These traders do not know where the money came from,” he told MACC radio.fm here.
He said the anti-graft agency has frozen 730 bank accounts containing RM80 million believed to belong to the syndicate.
“We also seized RM5 million in cash and 23 luxury vehicles, including Mustang, Rolls-Royce, Bentley, Ferrari and Porsche, as well as several high-powered motorcycles believed to have been bought using money from the syndicate’s illegal activities.”
He said 19 people have been arrested, of whom eight are with the authorities and suspected of providing protection to the ring.
“MACC is working with the Inland Revenue Board to look at the syndicate’s tax records.”
Yesterday, Bernama reported that Deputy Inspector-General of Police Datuk Seri Acryl Sani Abdullah Sani confirmed that five cops have been arrested on suspicion of being involved in a money-laundering syndicate.
Earlier, a celebrity couple gave their statements as part of the probe. – Bernama, October 8, 2020
_director_Datuk_M._Kumar.jpg)
.jpg)
