Malaysia police raid premises in MACC collusion probe

Officials searched two premises of businessman Victor Chin and seized two cars, luxury watches, jewellery and cash. Read more at straitstimes.com.

KUALA LUMPUR – Malaysian police raided the premises of a businessman suspected of colluding with anti-graft agency officials in an alleged scheme to intimidate executives and oust them from companies, the Star newspaper reported on March 16.

Officials from the police and the Securities Commission searched two premises of Mr Victor Chin near Kuala Lumpur on March 13 and seized two cars, luxury watches, jewellery, cash and documents, the media outlet said, citing unidentified people familiar with the matter.

Mr Chin and his wife weren’t present at the time but three of his aides were, the paper said.

The raids are part of an investigation into Mr Chin’s corporate dealings, the Star reported.

Bloomberg News reported in February that he was allegedly part of a group of businessmen, nicknamed the “corporate mafia,” who worked with Malaysian Anti-Corruption Commission officials to intimidate corporate founders, oust them and sometimes take over the companies.

The MACC strongly denied the allegations, as did Mr Chin when asked by Bloomberg at the time.