Macau Scam: Becoming a company shareholder among syndicate's modus operandi

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has revealed that the modus operandi of the Macau Scam syndicate will include being a cash investor in a company owned by a businessman as well as being a shareholder of the company.

MACC Chief Commissioner, Datuk Seri Azam Baki said apart from that, the syndicate involved is also believed to have invested money from the illegal activities to a licensed money lending company or 'Ah Long' and an illegal gambling syndicate in an effort to clean up the money.

This is because, he explained, the profit from the investment in the company will be received back by the syndicate.

"In this investigation, the modus operandi used by the syndicate is to create hundreds of companies to channel funds for the purpose of washing the money earned.

"They give cash and in some cases they become shareholders to get the return on the investment.

"If we look at the way they (invest in companies), it looks ‘halal’ but the fund is actually the result of fraud against many Malaysians," he said in a live interview through the 'MACC 360' slot at MACCfm here on Thursday.

Commenting further, Azam also revealed that the syndicate will also create hundreds of 'dummy' companies in the process of laundering the illegal money involved.

In this regard, he asked those who have information on the issue to come forward or contact the MACC to be an important witness in the case.

"If they provide information, their security will be fully guaranteed in accordance with the Whistleblower Protection Act 2010. The country’s laws will protect their identity," he said.

Azam said those who want to channel information can contact MACC officer PPj Asrul at ‪019-3126020‬; PPj Rohaizi (‪013-9400200‬) and Psk Sabri (017-2582415).