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Three Datuks arrested over alleged forex scam

Feb 14, 2018

KL police have arrested three Datuks, after they allegedly cheated over 70,000 victims in a forex investment scam, involving an estimated RM 1 billion in losses.

The police say the suspects organised seminars, contract signings as well as endorsements, and used registered companies to make their fraudulent activities seem genuine.

During the raids on four locations, police seized more than 10 luxury vehicles, several branded watches and company documents. 

Police are still looking for two more suspects, both believed to have fled to neighbouring countries, a day after police conducted the raids.