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Wednesday, 14 February 2018 | MYT 12:41 PM

Major players in forex investment scheme nabbed

KUALA LUMPUR: Three major players of a forex investment scheme have been arrested following investigations into more than 100 police reports made over the matter.

Federal commercial crimes investigation department (CCID) director Comm Datuk Seri Amar Singh said that three suspects were arrested during raids on Feb 10.

"Simultaneous raids in Kuala Lumpur saw the arrest of three suspects with 'datuk' titles," said Comm Amar, adding that they were looking for two more people to assist investigations into the case.

He added that police believe that the two are no longer in the country.

"We will work with our overseas counterparts to find them," he said in a press conference Wednesday (Feb 14) at the department headquarters here.

The two have been identified as Datuk Pandeyan Maruthamuthu, 56, and his wife Datin Gouri C. Faskuny, 55.

The two and the other arrested suspects are known to be the main handlers of FX United, a forex investment platform that started operations in 2013.

Reported losses from the forex scheme are estimated to be around RM6.2mil, with much more in unreported losses.

Police investigations have shown that the investors were promised profits as high as 12% per month.