KUALA LUMPUR: Police are continuing their investigation into businessman Victor Chin under anti-money laundering laws, with the suspect believed to be abroad.
Inspector-General of Police Datuk Seri Mohd Khalid Ismail said the probe was being conducted under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla).
"Victor Chin is not in the country at the moment. Efforts are ongoing to obtain cooperation from relevant parties," he told reporters at Bukit Aman today.
He said police may seek the assistance of their foreign counterparts.
"Authorities are working with multiple agencies to advance the case," he said.
Raids on several premises linked to Chin over his alleged involvement in a purported "corporate mafia" led to the seizure of luxury watches, jewellery, cash in various currencies, and two cars.
Chin has denied any involvement in the matter.
Previously, Bukit Aman Anti-Money Laundering Crime Investigation Unit chief Datuk Fazlisyam Abdul Majid said the raids also resulted in the seizure of several documents relevant to the probe.
The case is being investigated under Section 4(1) of Amla, which criminalises money laundering by anyone engaging, directly or indirectly, in transactions, transfers, or the concealment of proceeds from unlawful activities.
Those convicted face up to 15 years in prison and a fine of at least RM5 million or five times the value of the proceeds, whichever is higher. - NST
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