PETALING JAYA, Oct 30 — The Domestic Trade, Co-operatives and Consumerism Ministry is hunting for accomplices of Zhang Jiang, an alleged scammer who reportedly cheated Malaysians out of more than RM300 million in a pyramid scheme, following his arrest in Thailand yesterday.

The ministry’s enforcement department officer Tan Chye Hor said Zhang, a Chinese national, had fled to Thailand with a fake passport.

“After that, we were unable to track him,” said Tan.

The ministry only got wind of his whereabouts yesterday when Zhang, who according to Tan, had been masquerading as a Buddhist monk and was arrested by Thai police.

Tan said Zhang had managed to influence the directors of a local company, CDTUP International Sdn Bhd, to act as a front for his business operations.

“Prior to that, CDTUP was a registered direct sales company dealing with household items such as shampoo and power banks,” he said.

Following the ministry’s investigation, three directors of the company, all Malaysians, were arrested for operating pyramid schemes, which are illegal here.

Thai Public Broadcasting Service reported yesterday that Zhang was arrested together with Wang Wenfang and Geng Lianbao, also Chinese nationals.

According to the agency, police had been monitoring the trio after they donated 20 million baht (RM2 million) cash to a temple in Phuket.

Police were reported as saying the trio begun their Thailand-based activities in June and were wanted along with other colleagues in China for more than RM600 million in fraud.

They were arrested in Bangkok.  RM24.2 million in assets including three cars, nine land titles and cash were seized.

Zhang, had earlier this year, aroused the ministry’s suspicions after advertising on billboards along the old Penang Bridge and highways in Kulai, Johor, proclaiming himself as “Bakal Orang Terkaya di Dunia” (world’s future richest man).

In July, ministry secretary-general Datuk Seri Alias Ahmad said Zhang had come to Malaysia to set up a get-rich-quick scam, seeking investments of just RM300 for participants to receive a return of between RM2,700 to RM6,000 a month without having to work.

A YouTube video claimed Zhang had given more than 50 Ferraris, BMWs, Porsches and Land Rovers to participants of the scheme.