<figure id="attachment_3284369" aria-describedby="caption-attachment-3284369" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-3284369 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2026/02/00c3cede-macc-sprm-fmt-160226-resize-4.webp" alt="MACC-SPRM LOGO" width="1600" height="1000" /><figcaption id="caption-attachment-3284369" class="wp-caption-text">A Bloomberg report alleged that a network of businessmen and MACC officers used raids and investigations to pressure executives into selling shares in targeted companies.</figcaption></figure>
PETALING JAYA: The MCA has joined in calls for a thorough and transparent investigation into allegations that certain Malaysian Anti-Corruption Commission (MACC) officials are part of a “corporate mafia” involved in taking over companies.
Its president, Wee Ka Siong, said the controversy surrounding the claims demanded firm attention as there must be no compromise in dealing with corruption, organised crime, fraud and money laundering.
He said there should be checks on “excessive enforcement actions” under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla), particularly the freezing of bank accounts belonging to public-listed companies (PLCs).
While Amla powers were important to dismantle criminal networks and prevent suspects from escaping with illicit funds, Wee said they must be accompanied by stricter oversight to prevent abuse.
&#8220;We must be cautious about freezing the bank accounts of PLCs, which often involves excessive enforcement actions. The freezing powers under Amla must be calibrated with stricter monitoring and oversight,” Wee said in a video on Facebook today.
The Ayer Hitam MP said unchecked account freezes could severely disrupt business operations, erode investor confidence and cause share prices to plunge, ultimately harming investors and employees not involved in any wrongdoing.
Wee pointed to the 2022 case involving Lingerie maker Classita Holdings Bhd (formerly known as Caely Holdings Bhd), where the company&#8217;s accounts were frozen under Amla, disrupting operations and causing its share price to fall sharply.
The MACC later ended the probe and lifted the freeze without filing charges.
Wee maintained that disruptions of that scale should not occur without strong justification, saying PLCs belonged not only to their directors but also to the public.
This call comes amid mounting pressure for an inquiry into a Bloomberg report alleging that a network of businessmen and MACC officers used raids and investigations to pressure executives into selling shares in targeted companies.
MACC chief commissioner Azam Baki has dismissed the claims as unfounded and based on unreliable information, saying anyone with evidence should lodge a police report.
A special task force has been set up to probe allegations of Azam’s shareholding in a financial services company, said to be above the limit prescribed for civil servants.
Several quarters, including the G25 group of prominent retired civil servants as well as MPs from PKR and DAP, have urged the task force to also investigate the collusion claims reported by Bloomberg.

MatchPoint Times

MCA joins calls for probe on MACC ‘corporate mafia’

Wee Ka Siong says excessive enforcement under Amla can severely disrupt business operations, with little oversight established to prevent the law’s abuse.

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