KUALA LUMPUR, Jan 10 — Police arrested 12 individuals, including five women, in two separate raids in Jalan Ampang here yesterday on suspicion of being involved in a non-existent online investment syndicate.

Dang Wangi District Police chief ACP Noor Dellhan Yahaya said all the suspects, aged between 23 and 38, were held in simultaneous raids at 8.30pm, with seven men and three women being foreigners while two other women are locals.

"Preliminary investigation found that the syndicate used non-existing online investment scam targeting customers living overseas,” he said in a statement today.

Among the items seized included 32 mobile phones, four laptops and a modem from the premises, which are believed to have been operating for about a month with a rent of RM5,000.

According to him, all the suspects have been remanded for three days until Wednesday (January 12) to assist in investigations under Sections 420 and 511 of the Penal Code.

Noor Dellhan urged those with information related to online investment fraud to contact the Dang Wangi District Headquarters at 03-2600 2222 or the nearest police station. — Bernama