SHAH ALAM: Selangor police busted three syndicates involving forex investments, fake credit cards and breach of trust with the arrest of 16 individuals in separate raids conducted from Monday to Thursday. Selangor Commercial Crime investigation department chief ACP Mohd Sakri Ariffin said the breakthrough came when the police acting through a tip-off arrested five individuals including the mastermind on May 18. The individuals were believe to be involved with a "non existent" foreign exchange trading also known as Forex. "The suspects aged between 28 and 40 believe to have been involved with fraudulent Forex investments with victims in the cases lost a total of RM5 million," he told reporters in a press conference in Selangor police headquarters here today. Mohd Sakry said the mastermind, identified as "Money King" lured victims through websites such as "www.nexusfx.com and www.mymoorescapital.com to persuade investors to invest a minimum US$1,000 (RM4,082). The suspects have been remanded and will be investigated under Section 420 of the Penal Code for cheating and dishonestly inducing delivery of property. "We also request victims who had invested through the websites mentioned earlier and companies with the name of Real Biz Network and Matrix Galaxy to come forward to police and lodge your complaints," Mohd Sakry added. Meanwhile, a 35-year-old suspect was arrested, believe to be involved in a breach of trust case which saw 32 investors lost a total of RM5.4million in various scams allegedly initiated by the suspect since 2014. "Initially the suspect had escaped and was hiding in Thailand for more than a year before he was finally arrested on Monday in a hotel in Cheras upon returning to Malaysia," added Mohd Sakry. The suspect have since been remanded and investigated under Section 409 of the Penal Code for breach of trust by an agent. While the third case saw about 10 individuals including four women being arrested on Tuesday for their involvement in fake credit card syndicate. The suspects were picked up during several raids in the Klang Valley which saw the police seize 117 counterfeit credit cards during the operation.