KUALA LUMPUR: A married couple wanted for allegedly masterminding a foreign exchange investment, or forex cheating syndicate, were arrested at klia2 on Monday.
Bukit Aman Commercial CID director Amar Singh Ishar Singh said the 56-year-old man and his 55-year-old wife were detained upon their return from a neighbouring country, where they had gone on Feb 11.
He said so far, the police had arrested five main members of the syndicate, including three men who were arrested on Feb 10.
“The syndicate is believed to have been operating between 2013 and August 2016, and an estimated 70,000 people had fallen victims,” he told a media conference here today.
According to him, police also seized RM10.4 million worth of properties, including houses, a condominium, a shop lot and two factory lots belonging to the couple.
In addition, police also seized eight luxury cars, including a Mercedes Benz, a Porsche Cayenne, a BMW and an Audi, as well as 50 watches of different brands, which were estimated to be valued at RM12 million.
On Feb 10, police detained three individuals on suspicion of involvement in the syndicate, involving a loss of almost RM1 billion.
The suspects are said to have duped the victims into participating in investments under the foreign exchange concept.
They are believed to have pulled wool over their eyes by holding seminars in hotels, offering a 12% monthly profit, using companies registered under the Companies Commission of Malaysia and involving organisers or higher management figures holding the “Datuk” title.