A 47-year-old fraudster who flaunted his mega wealth on social media has finally been arrested.

According to the Malaysian Anti-Corruption Commission (MACC), a whopping RM3.5 million cash (over N318 million), luxury vehicles, yacht, helicopters were seized from the suspect who headed a “project tender cartel”.

The cartel said to be in operation since 2014, has been monopolising government tenders. It’s believed that the syndicate used more than 150 companies to submit tenders or quotations to ministries and agencies.

The 47-year-old businessman with a ‘Datuk’ title was said to have amassed an extraordinary amount of wealth and assets, including a luxury yacht and two helicopters.

MACC crippled the ‘project tender cartel’ with the arrest of seven individuals, including its mastermind, Daduk, in an operation conducted on Sunday night, April 4.

MACC Chief Commissioner Datuk Seri Azam Baki said, so far, investigators have arrested eight suspects.

“Although we’ve arrested the mastermind of the syndicate, a 47-year-old businessman with the title ‘Datuk’, we believe there are a few accomplices still out there. This is an ongoing investigation and based on the developments, we believe there are others involved,” he told a press conference on Wednesday, April 7.

A source added that also seized was RM29 million worth of properties, such as bungalows, shophouses and offices.

“A total 644 accounts, belonging to individuals and companies, worth about RM100 million, were also frozen. The wealth amassed by the ‘Datuk’, who is the head of the syndicate, is extraordinary,” the source said.

The suspects were said to have monopolised a total 354 tenders from several ministries and government agencies nationwide, involving projects worth a total RM3.8 billion.

The head of the syndicate created 150 different companies by employing several individuals as directors of companies which in fact belonged to the former.

The syndicate targets facility maintenance and development projects.

Investigations revealed all the companies had provided false information in terms of academic qualifications, professional certifications and financial statements to convince the tender board on their capabilities in implementing the projects.