Malaysian Anti-Corruption Commission chief Azam Baki has dismissed allegations that MACC officials are part of a “corporate mafia” involved in taking over companies, describing the claims as unfounded.
Claims based on unreliable information
Azam said he is not worried about the accusations against the agency because they rely on inaccurate and unreliable information, according to Utusan Malaysia.
“If they claim to have evidence that was taken from unreliable sources, then that is up to them,” he was quoted as saying.
“If anyone wants to lodge a police report, they are free to do so. I have no issue with that. If there is proof, go to the authorities and file a report. It’s simple.”
Open to legal or public action
Azam added that those making the allegations could make videos or take any other steps they wish.
“If it involves criminal elements, take it to the authorities and the courts. I’m fine with that,” he said.
Origin of the allegations
On Thursday, the Center to Combat Corruption and Cronyism demanded the immediate suspension of all MACC officials allegedly involved in colluding with businessmen to target companies for takeovers.
The anti-graft NGO expressed outrage over claims in a Bloomberg report that a loose network of businessmen buys shares in locally-owned companies before intimidating executives, with assistance from MACC officials, to force them out.
The report alleged that intimidation tactics included MACC officers investigating targeted company executives.
It listed purported “services” provided by MACC’s Section D, the unit responsible for probing listed companies, market-related corruption and insider trading.
These alleged services ranged from raids on company offices and pressuring executives to sell shares to recommending charges to public prosecutors.
Each “service” reportedly carried a price tag, with some reaching millions of ringgit.
The Bloomberg article further claimed that MACC involvement in such schemes extended from lower-level officers to the highest ranks of the commission.
Separate probe and calls for wider investigation
A special task force has already been established to investigate separate allegations concerning Azam’s shareholding in a financial services company, which is said to exceed limits set for civil servants.
Several groups, including the G25 group of prominent retired civil servants as well as MPs from PKR and DAP, have called on the task force to also examine the collusion claims raised in the Bloomberg report.
