We know where Victor Chin is, says Saifuddin

 The home minister says the investigation against the businessman is still at an early stage.

The investigation against businessman Victor Chin will be carried out ‘step by step’, said home minister Saifuddin Nasution Ismail.

KUALA LUMPUR:

 Home minister Saifuddin Nasution Ismail said authorities are tracking down businessman Victor Chin, who is at the centre of claims revolving around the so-called corporate mafia.

Saifuddin said the authorities are aware of Chin’s whereabouts, but he declined to elaborate.

“We know where he is,” he told reporters after attending the 219th Police Day celebrations here today.

Saifuddin said the investigation against Chin is still at an early stage.

“Let’s do this step by step. I will leave it to the authorities (to decide) whether or not we will eventually retract his travel documents.”

Chin has been linked to forced takeovers of companies, allegedly involving Malaysian Anti-Corruption Commission officials. He has denied the claims, insisting that he “is a victim and not the perpetrator of such manoeuvres”.

Last week, Inspector-General of Police Khalid Ismail said Chin was abroad and that authorities were tracking him down with cooperation from their counterparts overseas.

On March 16, Bukit Aman confirmed that police raided several premises belonging to Chin in Kemensah, and Sungai Long, Kajang, both in Selangor.

The Cabinet previously ordered the police, the Securities Commission Malaysia, MACC and the Inland Revenue Board to investigate allegations that certain anti-graft agency officials were involved in manoeuvres to force company takeovers.

A Bloomberg report alleged that these officers provided intimidation “services”, such as raids and investigations, to pressure executives in targeted companies into selling shares, thus forcing company takeovers. - FMT