BUSINESSMAN Victor Chin Boon Long has denied allegations that the RM9.5 million payment he made was a bribe.
Instead, he claimed the sum was paid under pressure to halt what he described as sustained harassment by a group he referred to as a “corporate mafia gang.”
“The payment has been “incorrectly and misleadingly” portrayed as an attempt to influence enforcement agencies or resolve legal issues.”
“The money was not intended to interfere with any investigations or settle allegations of wrongdoing,” Chin said in a statement.
According to Chin, the payment was made as a “service fee” in what he described as an “extreme situation,” claiming he was told the funds would be passed to the alleged group to stop hostilities against individuals linked to him.
“I was under significant duress,” Chin said, alleging that the group had pressured him to surrender his shares without compensation.
He further claimed that the situation escalated to include actions targeting people associated with him, including family members, business partners, and acquaintances.
Chin alleged that more than 500 bank accounts belonging to individuals believed to be connected to him were frozen, leading to widespread financial disruption.
He said the measures left affected parties unable to meet financial obligations such as salaries, housing loans, and car payments.
“The affected individuals and companies were panicking and in significant financial and mental distress,” he said.
Chin maintained that the payment was made in an effort to immediately alleviate the situation and protect those around him.
“The greatest wealth in life is not money, but peace of mind,” he said.
He also called for a formal investigation into the matter, expressing support for the establishment of a Royal Commission of Inquiry (RCI) or a similarly independent body.
Chin said such an inquiry should be “thorough and impartial,” and extend beyond his individual role to examine all parties potentially involved. – March 26, 2026
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