Putrajaya:Two corporate brothers have been remanded for five days over alleged abuse of position related to an investment of approximately RM10 million.

According to BERNAMA News Agency, the Malaysian Anti-Corruption Commission (MACC) secured the remand order, which is effective from today until October 5, from Magistrate Ezrene Zakariah at the Putrajaya Magistrate's Court. The brothers, aged in their 40s and 50s, holding the titles Datuk Seri and Datuk Wira, were detained after providing statements at the MACC headquarters.

Initial investigations suggest the siblings were suspected of collaborating in the alleged offence in late 2020. They are believed to have conspired with an officer from an education-based foundation to approve a substantial investment in a company owned by the elder brother.

The MACC has seized 15 luxury cars, 12 high-powered motorcycles, five luxury watches, three bracelets, and approximately RM30,000 in cash. MACC chief commissioner Datuk Seri Abd Halim Aman confirmed the investigation under Section 23 of the MACC Act 2009.