KUALA LUMPUR — Over RM38 million (S$11 million) in cash and 200kg of gold valued at RM60 million were seized as part of an investigation against a businessman and his accomplices.

The probe was launched by a multi-agency task force (MATF) headed by the Malaysian Anti-Corruption Commission (MACC), and also involved the Royal Malaysia Police, the Immigration Department, the Customs Department, Central Bank of Malaysia, Inland Revenue Board, and Cyber Security Malaysia.

“The operation, dubbed Ops 82s, was the first such raid conducted by the MATF, under the supervision of the Attorney General’s Chambers,” according to a statement.

The raiding teams also confiscated 17 luxury vehicles including a Ferrari and a Maserati.

The operation saw over 300 officers from the agencies launching 34 simultaneous raids in Kuala Lumpur and Selangor for the investigation into the businessman, who is said to carry the title of “Datuk”.

According to news reports, the businessman was linked to a former ruling party and allegedly involved in a smuggling syndicate that was also suspected of bribery, money laundering, tax evasion, and criminal breach of trust.

Malaysia's New Straits Times (NST) reported on Wednesday (July 26) that the 42-year-old businessman who was arrested on suspicion of money laundering on early Monday morning, has been released on Tuesday.

The suspects were said to have been detained at their respective homes early on Monday morning in a joint operation by the agencies.

It was reported that the MACC had also obtained a one-day remand order for the business at the Shah Alam court.

An MACC source close to the investigation told the news outlet that he was released after his one-day remand granted by the Shah Alam Court had ended.

"MACC applied for a remand extension this morning, but the extension was not granted at the Shah Alam Court," he said, when contacted.

MACC had allegedly applied for a longer remand to facilitate investigation under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 for acquiring an undisclosed amount of wealth.

The source said the suspect was represented by more than half a dozen lawyers who made sure he secured the release, without any extension.

The businessman, who owns several businesses including two gold jewellery shops, is also a prominent figure in the entertainment industry and has been responsible for bringing in artistes from India.

He has organised at least three concerts in 2023 alone, and all were said to be a success.

"Another suspect who was also arrested in relation to the Datuk's case on Tuesday night, was also denied remand this morning," the source added.

Two others who were arrested separately in the joint operation on Monday are believed to be still in the agency's custody.

Not much details are available on the fourth and latest suspect who was arrested and denied remand. AGENCIES