Home Minister Saifuddin Nasution Ismail has confirmed that authorities are currently tracking the whereabouts of businessman Victor Chin. Chin is at the centre of allegations involving a so-called corporate mafia.
Speaking to reporters after the 219th Police Day celebrations in Kuala Lumpur today, Saifuddin stated that the authorities are aware of Chin’s current location. However, he declined to provide further specific details regarding the matter.
The minister noted that the investigation into Chin is still in its early stages. He emphasized a step-by-step approach to the process, adding that he would leave it to the relevant authorities to decide if further actions, such as retracting travel documents, will be necessary in the future.
Allegations of forced company takeovers
Chin has been linked to claims of forced company takeovers that allegedly involve officials from the Malaysian Anti-Corruption Commission. He has since denied these accusations, maintaining that he is a victim rather than the perpetrator of such activities.
Last week, Inspector-General of Police Khalid Ismail reported that Chin was currently abroad. The police are working closely with their international counterparts to track him down as part of the ongoing probe.
The investigation gained momentum on March 16 when Bukit Aman confirmed that police conducted raids on several premises belonging to Chin. These operations took place in Kemensah and Sungai Long, Kajang, both located in Selangor.
Cabinet orders multi-agency investigation
The Cabinet had previously directed a joint investigation involving the police, the Securities Commission Malaysia, the Malaysian Anti-Corruption Commission, and the Inland Revenue Board. This directive followed allegations that certain anti-graft officers were involved in schemes to force corporate takeovers.
According to a report by Bloomberg, it was alleged that these officers provided intimidation services to pressure executives. These tactics reportedly included raids and investigations designed to force individuals in targeted companies to sell their shares.
