KUALA LUMPUR, Nov 8 — A husband and wife, aged 58 and 57, who were arrested two days ago after police received 72 police reports in relation to a money laundering case involving an i-Serve investment company believed to be linked to the co-founder of a low-cost airline are expected to be released on police bail this afternoon.

Bukit Aman Commercial Crimes Investigation Department director Datuk Seri Ramli Mohamed Yusoof told a Malay daily that the married couple was remanded two days ago.

"Initial investigations showed that the male suspect with a Datuk title who was arrested before this is believed to be complicit in the investment and the network of other businesses,” he was quoted saying.

The 58-year-old man was arrested at Kuala Lumpur International Airport 2 (KLIA 2) at 3.30am two days ago after returning to Malaysia while his wife was arrested at a condominium in Sentul at 4.15am on the same day.

"The suspect admitted that he is the director of a few subsidiaries under i-Serve,” said Ramli.

Investigations found that the 58-year-old suspect had connected with MYAirline’s founder in 1995 and admitted to establishing the i-Serve company in 2019.

Last month, the police investigated investment company i-Serve and the network of companies under it as it is suspected to be involved in money laundering.

Besides the couple, eight individuals including Datuk Allan Goh Hwan Hua who is the co-founder of MYAirline, along with his wife and son, a shareholder in i-Serve, three investment staff, and the company lawyer were arrested around the Klang Valley area.

Currently, a total of 10 suspects have been arrested in relation to the case and police have seized RM5 million in cash.

Police also seized 12 vehicles owned by the suspects, documents related to i-Serve Technology and Vacation Sdn Bhd, six luxury watches, eight luxury handbags, two laptops, one CPU, and 10 pieces of jewellery.

The case is being investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and section 420 of the Penal Code for cheating and dishonestly inducing delivery of property which carries a punishment of imprisonment not less than one year and not more than 10 years with whipping and shall be liable to fine.