According to a report by Australian news portal The Age, several computers and files were confiscated from a home in Vermont South during the raid codename 'Operation Carambola'.
It is also reported that several other raids are also in plans.
It further added that this is the first time that police have launched a full-blown operation.
Yesterday, Prime Minister Datuk Seri Najib Razak had said following the expose by The Age, a thorough investigation into the matter would be conducted by the authorities.
Najib said if any parties were found to have cheated or deceived any Economic Council board members with inaccurate or incomplete particulars, legal action will be taken against those responsible.
Prior to that, Mara Chairman Tan Sri Annuar Musa said the purchase of Dudley International House by Mara Incorporated Sdn Bhd (Mara Inc) followed procedures and guidelines set by the Finance Ministry.
Annuar also said Mara had begun investigating Mara Inc. through its internal audit unit and the Malaysian Anti-Corruption Commission (MACC) two months ago.
He explained that the investigations were conducted following discovery that some of Mara’s subsidiaries including Mara Inc, did not adhere to certain regulations.
As such, he said even before the expose by The Age on the purchase of the Dudley International House, investigations, although not specific to the deal, have begun.
The report now only provided Mara with additional information to be looked into.
The Age reported that a high ranking Mara official, a senior official of the government-linked company and a former politician had spent millions of government funds to buy an apartment block in Melbourne and had received kickbacks involving the purchase.
The newspaper had reported that "a group of very rich Malaysians" had overpaid A$4.75 million (RM13.8 million) for the apartment block in the Australian city.
The trio are alleged to have asked for the price of the building known as Dudley International House to be marked up from A$17.8 million to A$22.5 million(RM65.3 million), with the difference to be their "cut".
Dudley International House was bought to serve as a hostel for Mara students in Melbourne.
The five-storey building in the East Caulfield suburb is currently accommodating 115 Mara students who are studying at Monash University.
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