KUALA LUMPUR - The police busted a black money syndicate with the arrest of three foreign men and confiscated RM 1.7 million (S$655,000) of cash believed to be fake notes.
City Commercial Crime Investigation Department chief Assistant Commissioner Izany Abdul Ghani said the three men aged between 45 and 54 were picked up at a hotel in Jalan Ampang on Dec 26.
Two suspects were from China, while another was believed to be a Singaporean.
Izany said the police seized eight safe boxes contained 5,373 pieces of USD100 and 831 pieces of RM100 notes.
He said police also confiscated a laptop, three mobile phones, a broadband modem, eight packets of blackened papers with the size of USD100 note and a eight packets of blank papers.
Other items seized, includes 17 bottles of chemicals believed to be used to wash blackened money.
The suspects are being remanded until Jan 15.