Silence from government in aftermath of businessman's RM10 million bombshell involving PKR MP

There has been silence from Putrajaya and government agencies following shocking claims by a businessman under investigation for alleged ties to the so-called corporate mafia, a rogue group said to have orchestrated forced takeovers of public listed companies in collaboration with the Malaysian Anti-Corruption Commission (MACC).

Yesterday, Chin's lawyers issued a lengthy document containing a chronology of events dating back to August 2024, when he said NexG Berhad, the company awarded lucrative government contracts to supply MyKads and Malaysian passports, became a target of the corporate mafia – the same group he was accused of being involved with.

Among other details, the document stated that between October 2025 and March 2026, the group used the police's anti-money laundering unit to force Chin and his associates to relinquish their stakes in NexG Bhd.

It said a certain "Mr R" acted as an intermediary for the corporate mafia.

The document then dropped a bombshell:
"Please note the development on 18 October 2025 when a member of Parliament from PKR asked Victor to arrange RM10 million in cash, as he said he would resolve Victor’s problem by speaking to the Corporate Mafia Gang.

"Victor managed to arrange RM9.5 million initially, but the remaining RM500,000 was never passed to him, as this MP did not resolve Victor’s matter. None of the money was ever passed to the Corporate Mafia Gang," the document stated.

Chin has issued an ultimatum to the MP to return the RM9.5 million before March 30.

"Or I shall expose your identity."

Who is he?

Intense speculation has focused on the individual's identity, with many claiming he is a minister in Prime Minister Anwar Ibrahim's Cabinet and also an MP for a Klang Valley constituency.

"The government must come out to either deny or confirm this; there must be absolute transparency to the public in a matter as serious as this," said former MACC chief Latheefa Koya, who urged the commission to "move in immediately" to record Chin’s statement.

"They must swiftly get to the truth of the matter — no need to wait around for someone to lodge a report."

MalaysiaNow has asked MACC chief Azam Baki whether an investigation would be launched into the allegation, but has not received any response.

Azam himself is embroiled in a shareholding scandal, with disciplinary action said to be pending against him.

Despite this, Azam, who has received strong backing from Anwar, has so far refused to step down as MACC chief commissioner, a post to which he was reappointed three times by the prime minister.

On March 13, former minister Rafizi Ramli urged the government to publicly disclose the outcome of its probe into Azam, citing sources who informed him that the investigation found Azam held shares worth more than RM14 million in nine companies, far exceeding the amount reported by Bloomberg last month.

Bloomberg's report on Azam was followed by an exclusive story on the corporate mafia, in which it named Chin as part of a rogue gang working with MACC officials to prey on businessmen with the aim of forcibly selling their shares in targeted companies.

It said that Chin, who had come under a money laundering investigation by the Inland Revenue Board (LHDN), had sought the help of a former Securities Commission officer, Chong Loong Men, to negotiate a settlement with MACC.

The report stated that Chong was present during another incident when a businessman brandished his pistol during a meeting to coerce a company founder to give up his shares, part of the modus operandi used by the corporate mafia.

Following pressure on authorities to investigate claims of the existence of the corporate mafia, Chin has become a key target of investigation.

However, Chin has since mounted a strong defence of himself.

On March 16, he questioned the police for targeting him over the corporate mafia allegations.

"I am not only being accused but I am also a victim of the very corporate mafia tactics being alleged," he said.

He warned that he would reveal "all facts within my knowledge" if authorities continued to target him.

Following this, Rafizi warned of "explosive leaks" if Chin was singled out by the government, adding that the businessman kept records of meetings and transactions which he could reveal.