'Corporate mafia': Gobind presses IGP for updates, wants answers from SC

DAP national chairperson Gobind Singh Deo has urged Inspector-General of Police Khalid Ismail to clarify the status of investigations into the “corporate mafia” allegations against MACC.

“It is going to be about two months since the cabinet expressed concern and called for a full investigation. Transparency is paramount.

“The IGP must, for starters, state clearly whether those cited in the reports have been questioned, and outline the subsequent steps to be taken,” the digital minister said in a statement this evening.

Gobind said given the specific allegations involving named companies and individuals, the probe must be exhaustive, extending to every person, entity, and MACC officers implicated in the complaints.

“This is a matter of significant public interest, as the integrity of our markets and national institutions is at stake.

“Such serious allegations cannot be left unchecked and must be resolved strictly in accordance with the law,” he added.

READ MORE: KINIGUIDE | The who and what of 'corporate mafia' scandal

What steps has SC taken?

Noting that the cabinet did not limit the probe to the police alone, Gobind said it would be appropriate for the Securities Commission (SC) to state what steps it has taken to address this matter.

“If there is market manipulation involved, and this is by use of force or any other measures to transfer shares in any company, then the SC would also have jurisdiction over the matter.

“They must tell us if they have looked at this aspect of the case and whether any action will be taken against anyone who is found to have committed offences or abetted any offences in the matter, and if so, when,” he added.

Not under SC jurisdiction

On April 22, SC chairperson Faiz Azmi said the capital market regulator cannot act on the allegations as they fall outside securities laws.

“SC does not regulate criminal intimidation and extortion. I don’t regulate murder and manslaughter. Why do you think that’s my job? My job is securities laws,” he told reporters.

Earlier, Khalid said police investigations have found no evidence to link the MACC to the allegations.

However, he added that investigations are ongoing and several people have been identified for questioning, both in Malaysia and overseas.

The “corporate mafia” scandal burst into the spotlight after a Bloomberg report on Feb 12 accused MACC officials of colluding with businesspersons to manufacture corporate takeovers.

The MACC denied the allegation, calling it a plot to smear its reputation.

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COMMENT | Is SC powerless against 'corporate mafia'?