LONDON- Britain’s Serious Fraud Office (SFO) has opened an investigation into a Malaysian company over suspected corruption and money laundering tied to major investments in the United Kingdom.
The probe follows intelligence submitted by Malaysian authorities, stemming from a domestic investigation into a high-profile corruption case linked to former Prime Minister Datuk Seri Ismail Sabri Yaakob.
Sources close to the investigation say the SFO is examining a number of significant UK-based projects involving the Malaysian firm. The investments — which include property development and infrastructure — are believed to have been financed using misappropriated public funds and may have served as vehicles to launder illicit gains.
One major acquisition under scrutiny is a 50% stake in a UK construction company worth an estimated £50 million (±AS$64.5 juta / ±RM310 juta). Despite the British firm suffering cumulative losses exceeding £80 million (±AS$103.2 juta / ±RM496 juta) across 2022 and 2023, the deal went ahead, raising further concerns among regulators.
The Malaysian company is also involved in mixed-use property developments, rail-linked infrastructure projects valued at over £3 billion (±AS$3.87 bilion / ±RM18.6 bilion),, and the purchase of historic real estate in central London.
Parallel Investigation in Malaysia
In Malaysia, the Anti-Corruption Commission (MACC) is pursuing a separate investigation into the alleged embezzlement of approximately £119 million (AS$150 juta / ±RM738 juta) in public funds during the administration of Ismail Sabri between August 2021 and November 2022.
Assets worth nearly £30 million (AS$38 juta / ±RM186 juta) have already been seized. These include large amounts of foreign currency, gold bars, and luxury items confiscated from properties linked to the former Prime Minister and his associates.
Investigators also believe the Malaysian company channelled funds into political campaigns in exchange for government infrastructure contracts.
The SFO’s inquiry is being supported by financial intelligence and documentation provided by Malaysian enforcement agencies, including regulators and anti-corruption officials. Authorities on both sides are said to be working closely to trace the flow of funds and identify related entities operating within the UK.
While the identity of the Malaysian company has not been made public, the investigation is understood to be focusing on subsidiaries, real estate holdings, and financial accounts linked to both Malaysian and UK-based project companies.
Strengthening Global Enforcement
This case underscores a broader trend of intensified international cooperation in tackling financial crimes involving public officials and politically connected entities.
The SFO has previously worked with Malaysian counterparts on major transnational corruption investigations, including the infamous 1MDB scandal, where billions of dollars were misappropriated through a global network of offshore entities and complex financial transactions.
The current investigation reflects a growing determination among global enforcement agencies to expose illicit financial flows and bring perpetrators to justice, regardless of borders.
No timeline has been given for the conclusion of the probe, but further legal action or asset seizures may follow, depending on the evidence uncovered.
Note: This article was sent via email by a party possessing relevant information and files.
