KUALA LUMPUR, April 11 -- Malaysian Anti-Corruption Commission (MACC) investigators have allegedly found indications of an alleged abuse-of-power scheme involving a former chief executive officer (CEO) of a government statutory body over share sales involving public funds.

A MACC source said the individual is believed to have determined the terms and purchase price of the shares, while also acting as both proposer and approver in closed-door negotiations with minority shareholders, giving him full control over the entire process.

"Preliminary investigations also found elements of bribery and money laundering through the transfer of transaction proceeds to offshore entities to conceal the identities of recipients, including the use of no...