The Malaysian Anti-Corruption Commission (MACC) has detained a man bearing the title “Tan Sri” to assist investigations into an investment fraud case involving more than RM300 million. MACC chief commissioner Tan Sri Azam Baki said the suspect, in his 60s, was arrested after giving a statement at the commission’s headquarters.
Investment Fraud
He has been remanded for four days. Initial investigations found the man, a prominent Islamic finance figure, owned a private company and had been operating investment schemes for two years, promising high returns. Authorities also suspect misuse of investors’ funds. A female board member in her 50s was also detained to assist investigations.
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