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JOHOR BAHRU: Police here broke up a “Macau scam” syndicate that laundered their illicit profits, said to be worth RM336 million, through a network of bank accounts, and 12 people have been arrested in a series of raids on last month.
Johor Police Chief Ayob Khan Mydin Pitchay said that nine men and three women, all between 29 and 68 years old, were arrested in Penang and Kuala Lumpur between December 3 and 21. All were directors of companies linked to the union.
The union is said to have used a network of mule bank accounts to transfer money deposited by unsuspecting victims.
The police have managed to trace 91 accounts used in the scam, 18 of them belonging to individuals and 73 company accounts, belonging to two companies, managed by the mastermind of the union and his two sons.
The proceeds were then used to invest in cryptocurrencies and buy properties.
Ayob Khan said the union’s activities were exposed after police received reports of casualties in Pontian and Nusa Bestari involving losses of 2.31 million ringgit.
“Subsequent investigations revealed that a property developer had received payments of 25 million ringgit from 91 bank accounts linked to the union.
“The payment (RM25 million) is part of the purchase price for 100 luxury condos and commercial units in George Town, Penang,” he told reporters at a press conference here today.
He added that the 12 people arrested last month were released on bail. However, the mastermind is believed to have fled the country and is currently in Thailand.
Ayob Khan said the police are looking for the father and children.
