Businessman Victor Chin Boon Long has clarified that a RM9.5 million payment made to a purported “corporate mafia” group was not a bribe, but rather a “service fee” paid under extreme pressure to halt ongoing harassment.
Chin stated that the payment was not intended to settle investigations, close any legal cases, or secure favours from enforcement agencies. Instead, he described the amount as a fee extracted by the syndicate through threats.
He explained that he was told the RM9.5 million would be passed to the group to stop hostilities against his associates and provide him a second chance to live.
Impact of frozen accounts on associates
According to Chin, the group had pressured him to surrender his shares without compensation. To force his compliance, the syndicate allegedly targeted those around him by freezing more than 500 bank accounts belonging to individuals and companies believed to be linked to him.
The freezing of these accounts meant that salaries could not be paid and personal loans for housing and vehicles could not be serviced, causing significant financial and mental distress to those affected.
Chin expressed that he felt a deep sense of guilt because these individuals were suffering simply due to their association with him. He emphasized that he was willing to do anything to ensure the peace of mind of his people.
Calls for an independent investigation
The businessman welcomed the potential establishment of a Royal Commission of Inquiry or any fair and independent investigation into the matter. However, he urged that such a probe be conducted thoroughly and impartially, covering all involved parties rather than being limited to himself.
Chin has been at the center of a growing controversy involving allegations of a corporate mafia and remains the subject of a police investigation.
He is linked to business interests associated with NexG Bhd, the sole supplier of passport booklets and identity cards in Malaysia. Authorities are currently investigating him under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act over alleged links to the group, which he denies.
Allegations of intimidation and political links
Chin claimed that he and his associates were subjected to sustained pressure by the group, alleging that they attempted to gain control of NexG Bhd through intimidation and repeated demands for the delivery of shares.
He further alleged that instructions regarding these demands were conveyed through an intermediary identified as Mr R.
Chin claimed that this intermediary is a member of parliament linked to PKR who had requested RM10 million in October last year in exchange for resolving the ongoing issues.
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