Kuala Lumpur: The Malaysian Anti-Corruption Commission (MACC) will arrest more bank officers involved in a syndicate that helped civil servants with bad debts secure personal loans from local banks.
According to Free Malaysia Today, MACC Chief Commissioner Tan Sri Azam Baki said the agency aims to detain additional bank officers involved in the scheme “within the week.”
“Based on our investigation so far, we believe the syndicate would apply for loans through various banks and receive payment amounting to 1 per cent of the loan value once it was approved,” Azam was quoted as saying.
The syndicate, uncovered under Op Sky, has already seen 12 arrests, including financial consultancy firm directors and several bank officers.
As part of the investigation, MACC has frozen 70 accounts linked to the syndicate, amounting to over RM16.2 million.
The anti-graft agency also seized nine luxury vehicles, over RM300,000 in cash, 17 high-end watches worth RM11.1 million, and branded handbags valued at RM430,000.
The suspects, aged between their 20s and 40s, have been remanded for five days.
MACC’s anti-money laundering division worked with Bank Negara Malaysia and local financial institutions to uncover the syndicate’s operations.
