3️⃣ Datuks were arrested in a series of raids in the city in 2018 for their suspected involvement in a foreign exchange scam which is believed to have raked in RM1 billion❗
The suspects, aged between 35 and 49, were arrested after police received a staggering 116 reports concerning losses totalling RM6.2 million from the syndicate’s activities nationwide.
“We seized 13 luxury cars, 3 superbikes, 10 gold pieces weighing 100 grammes each, luxury watches and handbags, as well as numerous documents." said Federal Commercial Crime Department director Datuk Seri Amar Singh
He said the authorities have frozen 38 bank accounts containing RM 624,000 belonging to 17 individuals, believed to have ties to the syndicate.
“We also froze assets in the form of a RM5 million bungalow as well as a Ferrari estimated to be worth RM1.5 million. In total, the assets seized are estimated to be worth RM10.5 million❗” he said.
The syndicate, which had been active since 2013, lured potential victims by promoting their investment scheme online, offering returns of 12% every month 💲
The syndicate would organize seminars in hotels where they would then convince people to invest their money in a foreign exchange scheme.
They would also use a company that is registered with the Companies Commission of Malaysia (SSM), and promote their senior management who would comprise Datuks.
The case is being investigated under Section 420 of the Penal Code and the Anti-Money Laundering, Anti-Terrorism, Financing and Proceeds of Unlawful Activities Act (AMLA) 2001.
Amar said police are now hunting down a husband (Datuk Pandeyan Maruthamuthu, 55) and wife (Datin Gouri C. Faskuny, 56) pair, whom he described as being the syndicate’s masterminds.
The duo believed to have fled to a neighbouring country just as the raids were conducted.
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