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TWO prominent Malaysian figures, one titled Tan Sri and the other Datuk, have been released from remand following their arrest in connection with the alleged misappropriation of RM300 million in investment funds, sources confirmed.
The Tan Sri, who had been remanded since last Thursday, was released on Sunday at midday. The Datuk, a woman who had been detained for five days, was granted bail on Saturday at 2 pm.
Authorities have simultaneously carried out significant asset seizures linked to the case. The latest measures include six properties valued at RM6.54 million, a plot of land worth RM1.8 million, and two luxury vehicles with a combined estimated value of RM1.35 million.
Fourteen bank accounts have also been frozen, though the total value is still being verified, with all assets seized estimated at RM9.7 million.
Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki confirmed the developments.
He stated that ten witnesses have already been interviewed and emphasised that the agency is actively seeking further witnesses to aid the ongoing investigation.
“MACC is actively seeking additional witnesses to assist in completing the investigation. MACC remains committed to swiftly resolving cases that involve public interest,” he said.
The alleged fund misappropriation reportedly involved nearly RM300 million collected from around 1,700 investors between 2021 and 2024, channelled into two companies associated with the Tan Sri in question.
Earlier reports noted that MACC had detained two individuals and carried out searches at five premises in the Klang Valley on 21 and 22 January.
Azam reiterated the commission’s resolve to see the investigation through, highlighting the case’s significance due to its wide-ranging implications for public trust and investor confidence. - January 25, 2026