The Malaysian Anti-Corruption Commission has detained a prominent businessman with the honorific of Tan Sri and a female director in connection with an investment scam involving more than RM300m.
MACC Chief Commissioner Azam Baki said the arrests were made on Tuesday and Wednesday following information regarding the large-scale fraud.
The Tan Sri, in his 60s, and the woman, in her 50s, are from the same company.
Investigations revealed that numerous investors lost hundreds of millions of ringgit to the syndicate.
Azam said MACC officers had met with several victims to verify their losses before moving in on the suspects.
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