MACC eyeing Sabah property tycoon for alleged links to Thai Ponzi scheme

KOTA KINABALU, May 22 A prominent Sabah businessman is being investigated by the Malaysian Anti-Corruption Commission (MACC) for corrupt business practices of his company, Sagajuta (Sabah) Sdn Bhd, which was recently linked to the UFun scandal which cheated 120,000 people of some RM4 billion in Thailand.

Datuk Raymond Chan Boon Siew, who owns the Sabah property development company is said to have surrendered documents to the MACC for investigation related to infrastructure development in the state.

There is an ongoing investigation on him for corruption and conflict of interest. We have collected documents from him, but he has yet to be arrested or called in for questioning, a source told Malay Mail Online.

Sagajuta, which runs 1 Borneo hypermall, a leasehold shopping mall here, was allegedly linked to UFun, a Thai company that ran a Ponzi scheme selling Utokens a digital currency used to buy items and services online.

Sagajuta has said it had lodged a police report on April 23 last year denying links to UFun and claiming it never sold any property to UFun Club nor sold any UFun tokens.