Police have foiled a syndicate involved in fraudulent trading with the arrest of three people with fake ‘Datuk’ titles and seizure of 27 luxury cars worth RM10 million in Jalan Pahang.

Kuala Lumpur Deputy Police chief Law Hong Soon said the suspects aged 20 to 39 years were arrested in the Klang Valley on March 11 after 126 reports were received from victims.

The illegal activity was orchestrated by a company chairperson with the title of ‘Datuk Seri’ and chief executive officer with the title of ‘Datuk’.

“The victims who advertised their cars for sale on mudah.com were contacted by an individual from AX Motor and agreed to sell their cars because of the high price offered,” he told a press conference in Kuala Lumpur yesterday.

Law said the company also promised to settle the car loans with banks and transfer ownership with the Road Transport Department (JPJ).

“The victims were given ‘bills of sale’ and ‘undertaking letters’ in which the company was responsible for all matters relating to the cars.

“They only realised the fraud after receiving calls from banks asking to pay monthly installments and received traffic summonses, although the cars had been sold while the ownership transfer was not done.

“When the victims asked for their cars to be returned, the company gave a variety of reasons and asked them to pay a high cost,” he added.

Police investigation revealed that the company was not registered to buy and sell used vehicles but to sell vehicle accessories.

The ‘Datuk Seri’ and ‘Datuk’ titles used by the three suspects were not awarded by sultans or Yang di-Pertuas Negeri.

- Bernama