KUALA LUMPUR: A Singaporean businessman’s greed to acquire easy money had cost him RM252,000 after he was cheated by a Black Money syndicate.
The incident happened when the 54-year-old victim and a friend held a meeting on April 7 with members of the syndicate at a hotel in Jalan Tun Perak, here.
City police deputy chief Datuk Law Hong Soon said the syndicate members demonstrated a method to 'wash' pieces of black paper to turn them into cash.
The syndicate then offered the victim to purchase the black papers and liquid for USD70,000.
"When the victim handed the cash, the syndicate members left the room and told the victim to wait while they take the items.
"However, after a while, the victim received a text message asking him to vacate the room, claiming that police are raiding the hotel."
Following a police report lodged by the victim, a team of police officers from Dang Wangi police headquarters conducted investigations before they managed to track the suspects.
The suspects were arrested three days later in Dang Wangi. Police were then led to an apartment in Ampang where they seized the items and equipment to print counterfeit money.
However, the cash that were given by the victim was nowhere to be found.
Law said the suspects, one from Guatemala and two from Cameroon, aged between 35 and 38, are being remanded to facilitate investigation.