JOHOR BAHRU: A businessman with the title ‘Datuk’ was among three individuals detained on suspicion of being involved in non-existent forex investments and cryptocurrency in Kluang, last Tuesday.
Johor police chief Datuk Ayob Khan Mydin Pitchay said the suspects, aged between 27 and 40 were detained following a raid on a double-storey terrace house in Taman Sri Kluang at 9pm.
“Acting on intelligence and public tip-offs, a team raided the house, arrested three suspects including a woman and seized foreign currency worth RM1.4 million as well as RM 2.1 million in cash.
“Also seized were six smartphones of various brands, 10 Rolex watches worth RM250,000, two Hublot watches worth RM200,000, 16 debit cards, 22 gold pieces worth RM 45,000 and two luxury cars, a Mercedes Benz and a Range Rover,” he told reporters at the Johor Police Contingent Headquarters here today.
Ayob Khan said the modus operandi used by the syndicate which has been active for the past two years was to convince people to invest their money in a foreign exchange and cryptocurrency scheme that promised high returns within a short period of time.
He said the syndicate targeted locals and foreign nationals including from China, Singapore, Brunei as victims adding the all the suspects have been remanded for three days from Tuesday.
Ayob Khan said efforts were being done to track down other members of the syndicate and the case was being investigated under Section 420 of the Penal Code. — Bernama
