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KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) is now tracing millions of ringgit worth in assets as well as cash stolen through fraud by a syndicate that included British nationals as members.
The MACC said it was tracking the illegal assets and money together with Bank Negara Malaysia, as well as international law enforcement agencies such as the UK’s National Crime Agency and the US’ Federal Bureau of Investigation.
“This is a follow-up action after the four main masterminds of the syndicate, consisting of foreigners, were charged at the Shah Alam court on Thursday and at the Butterworth court yesterday,” it said in a statement today.
MACC disabled the syndicate last month through Ops Tropicana and estimates that some RM200 million had been stolen from victims, including UK and Australian citizens.
Four masterminds, who are UK nationals, had pleaded guilty to an alternative charge under Section 417 of the Penal Code.
In total, the MACC had arrested 10 people, also including two Filipinos, in raids in Kuala Lumpur and Penang last month, after raiding 24 locations.
The syndicate had tricked victims into parting with their money through fraudulent investments.
The MACC also commented on a report by the New Straits Times that workers in five major banks had allegedly been involved with the syndicate.
The anti-graft agency said it was investigating the matter, but that the focus was on individuals and not the banking institutions.
“There are a handful of professionals including bank officers, accountants and company secretaries, who facilitated the syndicate’s operations,” the MACC said. – The Vibes, March 18, 2023
