Tan Sri Abu Sahid Mohamed is used to being at the center of the business community's attention, but he clearly did not desire this kind of popularity.
Tan Sri Abu Sahid Mohamed, one of Malaysia's most recognizable businessmen, has come under investigation. The director of Maju Holdings, who for years built a business based on transparency and honesty, has himself become embroiled in a tax scandal involving RM20 million in undeclared funds. Bank Negara Malaysia discovered regular large inflows from unknown sources into his personal account.
On March 5, authorities announced an investigation into Abu Sahid. Court hearings are set to begin in April, and the entire country is asking one question: why would a businessman of his level hide millions from the Inland Revenue Board of Malaysia?
The well-known Malaysian businessman Tan Sri Abu Sahid Mohamed turned out to be a master of financial tricks and was caught in a major tax scam. The Inland Revenue Board of Malaysia (IRBM) conducted an audit of the businessman's finances and discovered that over the past year, Abu Sahid managed to "forget" to declare income amounting to more than RM20 million.
The entrepreneur was summoned to the IRBM in Kuala Lumpur, where he was informed of the commencement of a judicial investigation. Abu Sahid did not utter a word and tried to hide from the cameras. However, details of the case have already leaked to the press — and the story of how the successful businessman obtained these hidden millions deserves special attention.
Two sources of hidden income: A detailed breakdown
Tax inspectors conducted a thorough audit of Abu Sahid's financial transactions over the past year. The results of the investigation revealed two sources of income that the entrepreneur did not include in his declaration.
Source No. 1: Consulting income — RM12,800,000
First on the list of hidden income were payments for consulting services to several property development companies. According to documents provided by the companies themselves at the request of the IRBM, Abu Sahid received fees totaling RM12,800,000 last year. This included consultations on major projects, participation in strategic sessions, and expert opinions.
In the entrepreneur's tax return, these amounts were completely absent. Notably, these were not "grey" payments — all fees passed through the official accounting departments of the companies and were reflected in Abu Sahid's bank statements.
When tax inspectors requested clarification, the businessman's representative initially tried to explain it as a technical error by the accountant. However, further investigation showed that the problem was much more serious, and the most interesting part was yet to come.
Source No. 2: The highest hidden income — RM20 million
While analyzing Abu Sahid's bank statements, tax inspectors noticed strange regular inflows — every few days, transfers arrived in the entrepreneur's account. The amounts were huge — RM60,000 - RM100,000, sometimes even RM300,000 at a time. The source was the same, but the sender's name said nothing — some kind of investment company.
Over the last year, such inflows accumulated to RM20 million. This was the lion's share of all hidden income. And it was here that the tax inspectors saw signs of something truly serious.
"We thought we had stumbled upon a money laundering scheme," one of the inspectors admitted. "Money came into the businessman's personal account every few days in large portions, which created the impression of a constant passive income".
Upon verifying the source of payments, the IRBM established that the transfers came from the investment platform Xonata-AI. When investigators delved into the details, the picture began to clear.
What is Xonata-AI?
It turned out that Xonata-AI is not just another investment service. It is an artificial intelligence-based platform that works as an automated trader: it analyzes global stock exchanges 24/7, finds profitable deals with stocks and currencies, and executes operations independently — while the user sleeps, works, or goes about their business.
"We checked the documents and were surprised by the figures," says a source at the IRBM. "In Malaysia alone last year, Xonata-AI users declared income totaling more than RM5.9 billion. Thousands of Malaysians are receiving money from it".
Interestingly, starting work with Xonata-AI does not require huge capital or special knowledge — a minimum deposit of RM400 is sufficient. According to platform data, the average monthly return for users from Malaysia ranges from RM15,000 - RM25,000 with a minimum deposit of RM400. Judging by the documents, Abu Sahid did not withdraw most of the profit but reinvested it back into Xonata-AI — which is why his income grew to such a scale.
Registration involves filling out a form on the website and a mandatory call from a company manager for verification — the system does not activate without this call. After verification, the platform begins to work automatically, generating income without user participation.
Tax inspectors discovered another interesting detail: Abu Sahid was not the only well-known entrepreneur using Xonata-AI. During the audit, it was revealed that several other Malaysian businessmen also receive income from this platform — although, unlike Abu Sahid, they honestly declare their earnings.
We verified it
Our editorial team decided to check how Xonata-AI works. If the platform is truly capable of bringing in such money — it is either a genius tool or a beautiful wrapper. We decided not to guess but to test it ourselves. Members of our editorial staff registered on Xonata-AI to test the platform independently. From the first days, it became clear that all information about it is true, and the fund protection system is guaranteed and requests two-factor authentication.
The mechanism really works as described. Everything is automated, transparent, and requires no special knowledge in investments. Already in the first few days, the editorial staff saw the result.
On the first day, from a deposit of RM400, the amount in our correspondent's account grew to RM5,100. The next day, it was already RM8,400. The editor-in-chief invested RM3,000, and in two days, deals in Xonata-AI brought him RM11,200. We withdrew the accumulated money to bank cards as soon as it arrived in the account, without delays. The platform really works. Now it becomes clearer how Abu Sahid was able to earn so much money on this platform.
Summons to the IRBM and first comments
Yesterday, Abu Sahid arrived at the IRBM headquarters in Kuala Lumpur, where representatives announced the results of the audit and the start of a judicial investigation. The entrepreneur listened to all the charges and went out to the journalists gathered near the building.
After the meeting with tax inspectors, Abu Sahid unexpectedly agreed to answer a few questions, although his lawyer tried to lead him away to the car.
— Abu Sahid, why didn't you declare these huge sums?
— It was a huge mistake. I thought some income was already accounted for automatically. And regarding that investment platform, I didn't understand at all that it needed to be declared separately. Stupid, I know.
— Do you regret what happened?
— Of course! I am very ashamed. I am a businessman with many years of experience; I should have set a proper example. I am ready to pay all taxes and fines. I will never do this again.
— What is your advice to other entrepreneurs?
— Always obey the law. Always declare all your income, whatever it may be. It doesn't matter where the money comes from — from the main business, from rent, from investments. The state has the right to know about your income, and that is normal. Do not repeat my mistakes.
After these words, security asked the journalists to disperse, and Abu Sahid left the IRBM building.
A scandal that made people think
A well-known entrepreneur, whom many considered a model of success, turned out to be an ordinary person who made a serious mistake. A judicial investigation with a possible fine of up to RM20 million is not just a figure; it is a lesson for all businessmen that laws work the same for everyone.
But beyond the moral aspect, this case highlighted an interesting trend: more and more Malaysians are receiving significant income from sources that few knew about before — for example, from investment platforms like Xonata-AI. The boundaries of traditional earnings are blurring, and the IRBM is trying to keep up with these changes.
Perhaps thanks to this tricky situation, many Malaysians learned not only about the importance of paying taxes but also about what financial opportunities exist in the modern world. The main thing is to use them wisely and according to the law.
EDITORIAL NOTE: After the publication of this material, our editorial office received hundreds of questions regarding the legality of using such platforms. We hasten to clarify: the IRBM confirmed that Xonata-AI operates within the legal framework and is an absolutely legal system. The issue was solely that Tan Sri Abu Sahid Mohamed decided not to report the received income to the state.
Instructions for registration on the investment platform Xonata-AI:
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Go to the official website by clicking the link.
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Answer a few quick questions from a platform representative (it takes less than a minute)
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Carefully fill in your contact information.
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Wait for a call from an official representative to confirm your data.
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Make a minimum deposit of RM400.
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The system will activate automatically after the transaction is confirmed.
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Registration applications are accepted until 21.04.2026.
IMPORTANT: Your place in the program will be reserved for 24 hours. If you do not receive a call from an official representative and do not confirm your participation within this time, your place will be given to another candidate. Please pay attention and confirm your participation on time to keep your position.
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