Ten people including five British and two Philippine nationals have been arrested by the MACC in connection with an investment scam syndicate which had cheated its victims of about AUS$60 million (about RM200 million), according to sources.

The sources said they were arrested in the 'Op Tropicana' operation yesterday when the MACC’s Anti-Money Laundering Division raided 24 locations in Kuala Lumpur and Penang.

The syndicate, led by its British masterminds...