KUALA LUMPUR, April 11 (Bernama) -- Police crippled an investment scam syndicate with the arrest of eight individuals and seizure of assets worth RM3.17 billion believed to be linked to a Ponzi-type investment fraud known as MBI Investments based in a neighbouring country.
Inspector-General of Police Tan Sri Razarudin Husain said the eight suspects, one of them a woman, included two entrepreneurs and two lawyers with a “Datuk” title. They are aged between 44 and 62.
He said the arrests were made on March 20 by the Anti-Money Laundering Criminal Investigation Team (AMLA) of the Inspector-General of Police Secretariat (USKPN) during Op Northern Star — a cross-border operation conducted based on information from Interpol red notices.
“All suspects are on remand for between one and seven days for investigation under Section 4(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001),” he said in a statement today.
Razarudin said that in several series of raids, the AMLA team also succeeded in freezing and seizing various assets, worth about RM3.7 billion, including 638 bank accounts and share accounts totalling more than RM1.16 billion as well as 35 properties worth RM2.01 billion
Also seized were 10 luxury vehicles, 12 luxury watches, cash in various currencies, two pieces of jewellery, two laptops, six mobile phones, four luxury handbags and various important documents.
“All the properties and items seized are believed to be ill-gotten gain from investment fraud,” he said, adding that the Royal Malaysia Police (PDRM) would continue investigations into individuals or entities suspected of being involved in money laundering related to investment fraud.
Razarudin also advised the public to always be vigilant and avoid getting involved in any suspicious activities and to come forward and provide information to the authorities to combat the crime
-- BERNAMA
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