Kuala Lumpur, 17 March 2026 – Market figure Victor Chin Boon Long has denied allegations linking him to an alleged “corporate mafia” operating within Malaysia’s capital markets, stating that he is not involved in any group attempting to seize control of listed companies and instead considers himself a victim of the accusations.
In a seven-page statement released on Monday, Chin acknowledged that concerns about corporate manipulation in Malaysia exist but insisted that he has no role in such activities. He said he has never orchestrated corporate wrongdoing nor participated in schemes to take control of public-listed companies.
Calls for Royal Commission of Inquiry
Chin expressed support for the establishment of a Royal Commission of Inquiry (RCI) to investigate allegations surrounding the purported “corporate mafia” network. He said such an inquiry would allow the truth to surface and clear his name from accusations circulating in media reports and online discussions.
At the same time, he questioned why attention has largely focused on him rather than examining all individuals who may have been connected to the broader allegations.
Investigations and Account Freezes
Chin also revealed that bank accounts belonging to companies not owned by him have been frozen for more than 90 days, which he said has disrupted businesses, investors and employees. According to him, some accounts were frozen due to suspected indirect links to ongoing investigations involving several corporate entities.
He claimed that more than 500 stockbroking and bank accounts have been affected in probes related to developments surrounding NexG Bhd and other companies linked to the investigations.
Police and Regulatory Action
Malaysia’s Inspector-General of Police Datuk Seri Mohd Khalid Ismail confirmed that authorities conducted raids on premises belonging to a businessman as part of a joint operation involving the police and the Securities Commission Malaysia. The probe is being handled by Bukit Aman’s Anti-Money Laundering Special Task Force.
The operation follows allegations of corporate manipulation and possible money-laundering activities tied to several public-listed companies.
Links to Broader Controversy
The issue gained wider public attention following investigative reports highlighting alleged connections between certain business figures and corporate control battles involving listed companies on Bursa Malaysia.
Earlier reports also raised questions regarding shareholdings and potential regulatory issues involving senior officials, although the parties involved have denied wrongdoing.
Political groups and civil society organisations have called for a deeper investigation into the matter, including the possibility of an RCI. However, the Malaysian government has indicated that such a move may be premature at this stage.
Prepared to Cooperate With Authorities
Chin said he will appoint legal counsel and submit documents to authorities to demonstrate that he has no involvement in the alleged corporate activities under investigation.
He added that he remains prepared to cooperate fully with enforcement agencies to ensure transparency and clarify the situation.
However, he warned that continued pressure on him and his family could lead him to disclose information he possesses regarding the wider situation in order to “reveal the full truth”.
