JOHOR BARU, Nov 26 — Police arrested three men, including one with a “Datuk” title, for their alleged involvement in non-existent investment schemes that specialised in fraudulent foreign and digital currencies.
Investigators also seized RM2.17 million, foreign currencies valued at RM1.4 million and luxury cars with a total value of RM4.6 million from the trio during a raid at a house in Taman Sri Kluang in Kluang yesterday.
Johor police chief Datuk Ayob Khan Mydin Pitchay said in the 9pm raid, police arrested two local men and a local woman aged between 27 and 40.
“The main suspect, who is aged 40, had just received his ‘Datuk’ title earlier this month. Initial investigations revealed that the syndicate has been involved in deceiving the public to invest in forex and digital currencies by promising lucrative returns in a short period of time.
“Their target are investors in the country, including foreigners such as those from China, Singapore, Brunei and several other countries,” said Ayob Khan at a press conference at the Johor police contingent headquarters here today.
During the raid, Ayob Khan said investigators confiscated 10 Rolex watches, two Hublot watches, six mobile phones of various brands, 16 visa cards from various banks and 22 gold pieces.
He said this was in addition to the cash and luxury cars that were seized.
Ayob Khan said the alleged fraudulent activities of the syndicate, which had been operating for the past three years, was discovered using information provided by the public.
He said police have started to identify and track down the victims involved in the investment scam, as well as members of the syndicate who are still free.
“We are investigating the major companies involved because our probe is still in the early stages.
“The raid was only initiated yesterday and it will take longer to check with Bank Negara and other related agencies.
“The three suspects arrested also could not explain where the large amount of cash found in the house came from,” said Ayob Khan.
He said police are also awaiting for the syndicate’s previous victims to lodge a report so investigations can be conducted soon.
“The main suspect had a police report lodged against him previously, but the complainant later withdrew the report.
“Police believe that many individuals have fallen victims of this investment fraud syndicate, but they do not come forward to lodge a report,” said Ayob Khan.
He urged those who have information about the syndicate and its activities to assist the authorities.
The three suspects have been remanded until tomorrow and the case is being investigated under Section 420 of the Penal Code for cheating.
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