KOTA KINABALU: The police have arrested the suspected mastermind of a Philippine investment scam who fled to Sabah after allegedly cheating 15,000 Filipinos of nearly 12 billion pesos (RM895 million) last November.
State Police Commissioner Datuk Hamza Taib said yesterday the police detained the man in Ranau on Thursday, January 24, but it was for possession of suspected fake Malaysian identity documents.
He said the suspect, in his 40s, was arrested over “identity issues” and not the investment scam in the Philippines.
There had been no official request by Manila police to Bukit Aman to arrest the man for the scam so far, said Hamza.
Malaysia does not have an extradition treaty with the Philippines but if his Malaysian identity decument is suspect, he could be deported to the country.
In November last year, the Philippine police launched a manhunt for the man, purportedly a Malaysian from Sabah who went by a different name in the Philippines.
The man, who allegedly told Filipino investors that he was related to top Sabah politicians, operated a pyramid investment scheme under a company called Aman Future Group Philippines Inc, promising returns of up to 67%.
The victims had used their savings, mortgaged homes and borrowed to invest in the scheme.
Many Filipinos had also been coming to Sabah to look for the man who portrayed himself as a religious person.
According to sources, during the initial six months, he had paid returns of between 30% and 50% to gain investor confidence.
A lawyer of the victims who was in Sabah last month said the man used a private jet and a helicopter when he travelled in the Philippines.
Among those cheated are said to be local officials, government employees, police and military officers.