Cops bust 'Black Money' ring, seize RM1.7mil in fake notes


  • Nation
  • Friday, 03 Jan 2014

KUALA LUMPUR: Police have crippled a “Black Money” syndicate, seizing counterfeit notes worth RM1.7mil with the arrest of two Chinese nationals and a Singaporean.

The three men, aged between 45 and 54, were picked up during a raid at a serviced apartment along Jalan Ampang here on Dec 26 at around 12.10am.

City Commercial Crime Investigation De­­part­ment chief Asst Comm Izany Abdul Ghany said a team from the Cheras Com­mercial Crime division raided the apartment following a tip-off after the suspects were involved in a fight.

Cheras OCPD Asst Comm Mohan Singh (left) showing the counterfeit notes seized. 
Cheras OCPD Asst Comm Mohan Singh (left) showing the counterfeit notes seized.

“Our investigations reveal that the fight between the suspects was believed to be due to the distribution of the profit from the scam,” he said.

Police seized 5,373 pieces of US$100 notes and 831 of RM100 notes all believed to be counterfeit notes worth a total of RM1.7mil that were stored in eight safe boxes and several travel bags in the apartment.

He added that other items seized were bottles containing liquid believed to be used to wash the “Black Money”, several packets of white and yellow powder, three handphones and a laptop.

“We believe that they conned their victims by convincing them to buy the notes that have been dyed in black which they would later ‘wash’ using the chemical,” he said.

ACP Izany said the apartment unit, which had been occupied by the suspects since 2012, was being used as a transit area to store the counterfeit notes.

He added that it was the first case that involved foreign nationals from China and Singapore.

“Usually the suspects in such cases are Africans. We are investigating the possibility of other foreigners involved in the scam,” he told a press conference here yesterday.

ACP Izany said the three suspects, who have been remanded until Jan 15, had entered Malaysia multiple times on tourist visas and were suspected to have been involved in illegal activities since 2011.

The case was being investigated under Section 489c of the Penal Code which carries a jail sentence of not more than 10 years if convicted.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Courts & Crime , black money , syndicate

   

Next In Nation

Swedish govt committed to combatting Islamophbia, racism, says Na'im
Acknowledge Perikatan’s shadow Cabinet officially in Parliament, says Bersih
Floods: 285 victims still in relief centres in Sabah as of 8pm on Feb 3
TVET should be led by single agency, new policy needs clarity, says FMM
Tawau MMEA foils attempt to smuggle contraband cigarettes
Selangor Umno ready to discuss state polls seat allocations with Pakatan, says Megat Zulkarnain
Over 100 people lose RM4.6mil to online rewards scam
Four lanes at Kota Kemuning toll plaza to be diverted until Feb 13
Parliament ditching neckties make MPs more approachable, says Loke
Govt to continue expansionary fiscal policy to support economic growth, says PM

Others Also Read