KUALA LUMPUR: Police have frozen or seized assets worth more than RM409 million in connection with an ongoing investigation into an alleged “corporate mafia” accused of abusing enforcement agencies to pressure businessmen into selling company shares at below-market prices.
Home Minister Datuk Seri Saifuddin Nasution said 70 individuals had been called to give statements as of Sept 25 under Op Viking. However, no Malaysian Anti-Corruption Commission (MACC) officers had been identified among those called to assist in the investigation.
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He said police had frozen or seized assets involving 70 share-trading accounts worth approximately RM323.59 million and 404 bank accounts containing about RM85.62 million, bringing the total to RM409.21 million.
The operation also involved eight properties, 11 vehicles and 417 Central Depository System (CDS) accounts, although their values were not disclosed.
“Based on the backgrounds and identities of the witnesses called to give statements, no MACC officers were involved or identified for the purpose of assisting the investigation,” he said.
Saifuddin was responding to Pengkalan Chepa MP Datuk Dr Ahmad Marzuk Shaary in a written parliamentary reply concerning the scope and status of police investigations into the alleged corporate mafia, including whether enforcement officers had been implicated.
He said the allegations, highlighted in a Bloomberg report on Feb 12, 2026, involved claims that enforcement agencies had abused their powers to pressure businessmen into selling company shares at discounted prices to facilitate corporate takeovers.
Saifuddin said police had opened an investigation paper under Op Viking on Oct 14, 2025, through the Anti-Money Laundering Investigation Team.
The case is being investigated under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
Several individuals had also been detained as part of the investigation, although Saifuddin did not disclose the number of arrests or whether enforcement officers from other agencies were among those being investigated.
He said investigations were ongoing as police worked to complete the investigation papers.
“The ministry assures that the police remain committed to conducting the investigation in accordance with the laws in force,” he said.
