KUALA LUMPUR, March 17 — Businessman Victor Chin Boon Long has demanded an explanation from the Royal Malaysia Police (PDRM) over a raid on his residence, asking why such “heavy-handed” tactics were needed when he already cooperated with investigators.

The raid, which took place on March 13, saw PDRM and the Securities Commission (SC) seize three company vehicles along with other valuables.

The action is part of a high-profile investigation into allegations of “corporate manipulation” and “Corporate Mafia” activities, a probe that has reportedly drawn in the Malaysian Anti-Corruption Commission (MACC).

In a press statement today, Chin noted that he returned to Kuala Lumpur on December 29, 2025, at the request of the authorities to provide his statement to the Bukit Aman Anti-Money Laundering (AMLA) Special Task Force.

“I have already given my statement to the AMLA investigators, clearly explaining my role and my position in this matter, which PDRM should be aware of,” Chin said.

“AMLA knows my whereabouts and has the means to get in touch with me at any time. So why is there a need to raid my house?”

The businessman disclosed that he was previously remanded for three days by the AMLA task force and subsequently released, making the recent raid even more baffling to his legal team.

He warned that the involvement of multiple agencies based on “baseless allegations” is creating an “unhealthy environment” for the corporate sector.

“Which authority will come next, and how many more agencies will be drawn into this matter?” he asked.

Chin has since appointed Krish Maniam & Co as his legal counsel, saying that all evidence and supporting documents to prove his innocence regarding the alleged “corporate mafia” activities will be lodged with his lawyers after March 19.

Yesterday, Inspector-General of Police (IGP) Datuk Seri Mohd Khalid Ismail confirmed that “inspections” were being carried out at several premises linked to the businessman.

The investigation gained momentum following instructions from the Cabinet for a multi-agency sweep into claims of corporate manipulation.

The issue first made international headlines on February 11 via a Bloomberg report, which alleged that a group of businessmen collaborated with MACC officials, including Chief Commissioner Tan Sri Azam Baki, to pressure corporate figures during company takeovers.

Azam Baki has vehemently denied these claims and is currently suing Bloomberg for RM100 million in damages.

 Malay Mail – Malaysia