‘Corporate Mafia’ probe freezes over RM400m in assets, no MACC officers implicated, Home Ministry tells Parliament

Home Minister Datuk Seri Saifuddin Nasution Ismail winds up the debate session at the Parliament building in Kuala Lumpur on October 27, 2026. — Bernama pic

By Malay Mail

First Published: Wednesday, 28 Oct 2026 9:28 AM MYT

KUALA LUMPUR, Oct 27 — Federal police have found no evidence linking Malaysian Anti-Corruption Commission (MACC) officers to alleged “corporate mafia” syndicates after questioning 70 individuals in an ongoing anti-money laundering operation, the Home Ministry told the Dewan Rakyat.

In a written parliamentary reply yesterday, the ministry confirmed that checks on those called up by investigators revealed no information to support such claims.

“Based on the background and identities of the witnesses called for statement recording, no MACC officers were involved or identified for the purpose of assisting the investigation.

“At present, the Op Viking investigation is continuing in order to complete the entire investigation paper. The Ministry gives an assurance that PDRM is committed to carrying out this investigation in accordance with the laws in force,” the ministry said.

The disclosure came in response to Pengkalan Chepa MP Datuk Dr Ahmad Marzuk Shaary, who asked the home minister to outline the status of the investigation, clarify whether MACC or other regulatory officials were being probed for abuse of power, and detail progress following a Cabinet directive ordering a comprehensive inquiry.

The high-level investigation stems from a Bloomberg report published on Feb 12, 2026, which alleged the existence of an entrenched “corporate mafia” in Malaysia. The report claimed rogue elements within regulatory and enforcement bodies abused their statutory powers to intimidate corporate executives into selling company equity at depressed prices, enabling third-party syndicates to engineer hostile corporate takeovers.

In response, the Royal Malaysia Police (PDRM) launched Op Viking through its specialized Anti-Money Laundering Act (AMLA) criminal investigation division, opening formal investigation papers on Oct 14, 2025, under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

As part of the nationwide operation, investigators have detained several individuals and moved aggressively against suspected proceeds of crime.

As of Sept 25, 2026, police had recorded statements from 70 individuals while freezing or seizing assets exceeding RM409 million.

The frozen assets include 417 central depository system (CDS) accounts and 70 share-trading portfolios valued at roughly RM323.59 million, alongside 404 bank accounts holding a combined RM85.62 million. Officers also seized eight real estate properties and 11 vehicles linked to the probe.

The ministry stated that police are actively pursuing remaining operational leads to finalise the investigation papers for prosecutorial review.

However, the parliamentary reply did not specify whether any of the 70 questioned individuals have been designated as formal criminal suspects, whether charges are pending, or if personnel from other regulatory agencies remain under scrutiny.

The ministry also refrained from identifying the registered owners of the impounded equity and bank accounts, with asset freezes under AMLA serving as an investigative safeguard rather than a legal finding of guilt.