JOHOR BARU, Nov 25 — Johor police believed they have solved a luxury goods scam operation that targets wealthy businessmen nationwide after the arrest of a man who allegedly cheated his victims out of RM20 million recently.

The suspect, who is believed to operate in Kuala Lumpur, is said to offer below-market prices for branded limited edition luxury bags and timepieces.

Johor police chief Datuk Kamarul Zaman Mamat said authorities were alerted of the alleged scam after several reports were lodged.

“Investigators from the Johor police contingent received a total of four reports from the victims, who were businessmen aged between 31 and 40.

“Acting on the information, police managed to track down and arrest the suspect at a residential premise in Bukit Jalil, Kuala Lumpur at 4.45pm on Sunday,” said Kamarul Zaman in a statement tonight.

According to Kamarul Zaman, the suspect has been brought back to Johor to assist in investigations on the four cases that were reported in Johor Baru and Iskandar Puteri.

He said the victims were said to have been cheated out of a total sum of about RM20 million from their purchases of special and limited edition branded timepieces and handbags.

“Further investigations found that the suspect was also believed to be involved in a similar case in Perak,” he said, adding that police have identified four victims in Johor and one in Perak.

Kamarul Zaman said the suspect’s modus operandi was to offer luxury edition timepieces and handbags to his victims at a much lower price than the market rate.

He said the victim will initially deal in person with the suspect, and after agreeing to the price offered, the payment was to be transferred into an account provided.

“However, after the payment has been made, the suspect will flee with the victim’s money,” he said, adding that the suspect will also be uncontactable during that time.

Kamarul Zaman said investigators believe there are other victims who have not lodged police reports.

The suspect is currently under police custody and has been remanded until November 27.