KUALA LUMPUR (March 29): Police have arrested prominent businessman Tan Sri Datuk Seri Tan Kean Soon, the Deputy Executive Chairman of T7 Global Berhad, a company listed on Bursa Malaysia, for allegedly deceiving the public of RM10 million on the pretext that the money would be handed over to the police to resolve money laundering cases.
According to sources, the 59-year-old Tan Sri was arrested by the AMLA Criminal Investigation Team of Bukit Aman after arriving at his residence in Jalan U-Thant on Saturday evening, following his return from Osaka, Japan.
“So far, the suspect has collected approximately RM10 million from victims. Initially, he allegedly demanded RM25 million, claiming he had close ties with the police and could assist in resolving their cases.
“He further claimed that the collected funds would be handed over to the police to prevent the victims from facing any legal action or investigation under AMLA,” the source told Bernama.
Authorities had been monitoring the suspect’s activities, and the AMLA team launched an intelligence operation that led to his arrest on Saturday evening.
“The suspect, who has 30 years of experience in the oil and gas industry and serves as chairman of a company, will be brought to court tomorrow (Sunday) for a remand order,” the source added.
Meanwhile, Inspector-General of Police Tan Sri Razarudin Husain confirmed to the media that a press conference on the case will be held soon.
Tan Sri Datuk Seri Tan Kean Soon, in addition to his role as Deputy Executive Chairman of T7 Global Berhad, also has over 30 years of experience in the oil and gas industry. He currently serves as the Chairman and Chief Executive Officer of CP Energy & Services Sdn Bhd, a company he founded in 1992.
In addition to his role at T7 Global, Tan Sri Tan is active in various organisations. He is an Advisor to the Minister of Human Resources and a member of the National Council for Occupational Safety and Health (MNKKP). He also holds positions as Chairman of the Malaysia Crime Prevention Foundation and Chairman of the Malaysian Chinese Oil & Gas Alliance Bhd.
On 22 September 2022, T7 Global Berhad announced the appointment of his son, Tan Kay Zhuin, as the Group Chief Executive Officer.
Recent developments show that Tan Sri Datuk Seri Tan Kean Soon has made changes to his shareholding in T7 Global Berhad, becoming the largest shareholder with a 13.03% stake.
The news of the arrest of Tan Sri Datuk Seri Tan Kean Soon, Deputy Executive Chairman of T7 Global Berhad, is expected to negatively impact the company’s share value.
