The police have not ruled out a number of individuals belonging to a syndicate linked to the Crude Palm Oil (CPO) investment scam and efforts to track them down are underway.

Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Acryl Sani Abdullah Sani said his department was in the midst of locating ill-gotten assets obtained by the syndicate.

He said the investigations were still underway and thus far, the two family members aged 35 and 57 under police custody were the suspected masterminds of the syndicate.

"I believe more individuals are linked to the syndicate and we will trace and arrest them (syndicate members) as soon as possible to facilitate investigations," he told reporters here after the Royal Malaysia Police (RMP) Solidarity Cycling with the Community programme in conjunction with the 210th Police Day celebrations here today.

About 750 participants from the police and the community took part in the event officiated by Bukit Aman management director Datuk Seri Zulkifli Abdullah, and attended by Penang police deputy chief Datuk Roslee Chik.

Acryl Sani said a total of RM4.3 million in property including 101 acres of date farm, luxury cruise boat and cash were seized following the arrest of the two men, believing it to be the largest seizure by the police this year.

"The seizure of property and cash from the syndicate was the biggest we ever did in cases involving bogus investment schemes and I don''t rule out the possibility of more assets acquired by the syndicate as we are in the midst of tracing them," he said.

Elaborating on the detention of the 57-year-old man in Kepala Batas, near here on Wednesday, he said the suspect was in hiding in the state for several days to avoid police detection, adding the man was remanded for three days.

So far, 248 police reports have been lodged in relation to the investment scheme.

It is believed the syndicate had been collecting investment money totaling RM31 million from the unsuspecting public and once the amount of investment increased, the syndicate decided to close the company's operations and absconded.

-- BERNAMA