Yesterday, Two Japanese men were among four people detained by police in connection with a syndicate that is believed to have issued false bonds using the name 'Federal Reserve of America Bond' running into hundreds of millions of ringgit in a raid at a hotel in Shah Alam, Malaysia here early this morning. Shah Alam police chief ACP Noor Azam Jamaluddin said in the 1.45am raid by the Commercial Crimes Investigation Department (CCID), the two Japanese men, aged 62 and 68, and a local aged 38, were detained in a room at the hotel.
Photo by Utusan Malaysia: ACP Noor Azam (center) showing the us bond.He said the team then raided another room in the same hotel and detained a 31-year-old Indonesian woman who had in her possession a briefcase containing bond certificates and counterfeit money.
"We also seized several other materials like 114 sheets of brown-coloured A4 paper with the words Federal Reserve Bond embossed on them and seven sheets of platinum written with "United States of America Department of Treasury Bank Memorandum".
"Also seized were 50 "The Japanese Government" currency notes and 150 Gold Certificates valued at USD100,000 each (RM314,000) four gold coins and five green cards titled "Federal Reserve Bond"," he told a press conference here.
Noor Azam said the modus operandi of the syndicate was to use the local man as a trustee to find investors.However, to date no police reports had been lodged on the syndicate. The syndicate is believed to make the bond and gold plate illegally to find victims of the investors in the country with promises of investment in construction projects such as hotels and other facilities in Malaysia.
He said his initial investigation also found that local men are arrested, it is required by the authorities in the territory of Indiana, the United States for involvement in criminal fraud. He added that he will refer men to the Federal Bureau of Investigation (FBI) for investigation. All suspects are now detained remand to assist investigations under Section 420 and Section 511 of the Penal Code. They will be remanded at the Magistrate's Court here for a period of detention for further investigation.
Source: Bernama, New Straits Times, Utusan Malaysia.
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