More arrests made in loan syndicate investigation


PETALING JAYA: Four more bank officers have been arrested by the Malaysian Anti-Corruption Commission (MACC) in connection to a loan syndicate targeting public servants.

MACC chief commissioner Tan Sri Azam Baki confirmed the Friday arrests, saying they are the latest to be detained in the ongoing investigation and that the commission will seek a remand order for the suspects.

“Previously, 12 individuals were remanded for five days, but seven of them will be released on Saturday (yesterday).

“We will request an extension of the remand for the remaining five to assist in the investigation.”

The MACC had earlier revealed the existence of a loan syndicate involving financial management professionals, with loans amounting to RM700mil allegedly approved for public servants.

The operation is suspected to be riddled with corruption and money laundering activities.

The syndicate, which reportedly involved financial consulting firms and financial institutions, was uncovered after the arrest of 12 suspects in the Klang Valley.

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Ops Sky , Arrests , Loan Syndicate , Bankers

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