The operation was conducted between Oct last year and Jan 13 this year, said Bukit Aman Anti-Money Laundering and Anti-Terrorism Financing (Amla) investigation unit chief Fazlisyam Abd Majid, Bernama reported.
Fazlisyam said Chin was detained in December last year and has since been released on police bail although he may be recalled if necessary.
He said the other six men and three women, believed to be directly linked to the investigation, had also been released on bail. Another 40 have been called in to provide statements.
“This case involves several people suspected of committing money laundering offences through various methods, including the acquisition or ownership of publicly listed companies on Bursa Malaysia, as well as private companies,” he said at a press conference here today.
Fazlisyam highlighted that the operation resulted in the freezing and seizure of various assets, including eight properties, 32 vehicles, 1,100 shares in two private limited companies, Central Depository System (CDS) accounts totalling RM323,588,293, trading accounts amounting to RM64,246,417, and 404 bank accounts holding RM85,624,528.
Fazlisyam said the operation was launched in Oct last year based on intelligence on money laundering activities dating back to 2018.
A formal investigation opened on Oct 25.
He said all parties suspected of being directly or indirectly involved in managing funds derived from unlawful activities are under investigation.
The probe is being carried out under Section 27B and Section 29B of the Moneylenders Act 1951, Section 176 of the Capital Markets and Services Act 2007 and Section 221 of the Companies Act 2016.
On March 16, the police confirmed that they had raided several premises belonging to Chin, who is alleged to be involved in corporate manipulation linked to the Malaysian Anti-Corruption Commission.
Separately, Fazlisyam noted that authorities have not received any report regarding Chin’s claim that an MP had demanded RM10 million to assist in resolving the corporate manipulation issue.