PETALING JAYA: Police are looking for a man who holds a "Datuk Seri" title who was alleged to have cheated investors over a purported RM20 billion project involving green technology, biodiesels, nanotechnology and the construction industry.
District police chief Assistant Commissioner Shahrulnizam Ja'afar said police have already completed the investigation and were now tracing the suspect who has since gone into hiding.
He said the details of the suspect have been provided to a team tasked with locating the man.
"The (full extent of the) involvement of a female lecturer (said to be linked to the case) will be known once we can trace the main suspect.
"Once the main suspect has been detained, the investigation papers will be sent to the deputy public prosecutor's office for further action," he told Harian Metro.
It was previously reported that the main suspect had claimed to have stayed in Denmark for 20 years and held a doctorate from a university there.
He also claimed that he had ties with a Danish company which was pioneering green technology.
The man claimed his company had expertise in green technology, biodiesels, nanotechnology and the construction industry and promised lucrative returns on investments.
To convince his victims, he and his friends had set up several separate companies and appointed a senior female lecturer from a public university in her 40s who was said to be an expert in such fields as an adviser for the companies.
She was also tasked with finding investors for a purported project to develop a green technology township in Raub and the Kulim International Airport in Kedah.
To assure potential investors, the man and his "business associates" would present working papers on the project, which they claimed were worth RM20 billion.