In the 9.45pm incident on July 14, four men in a Proton Preve, with police livery, stopped a car driven by a worker of a money changing outlet and told him to drive back to his outlet along Pitt Street at gunpoint.

The men then seized foreign currency worth RM100,000 from the outlet and left.

Police investigators believe the men were initially aiming to take RM20 million from the outlet, after hearing the money changer had that amount kept at his outlet.

Penang police chief Sahabudin Abd Manan said police managed to nab the suspects, two of them foreigners, at an undisclosed location.

The 10 suspects were aged between 24 and 44. Police also recovered RM20,000 in foreign currency.

Three Proton Preve cars with police livery were also seized, together with two service revolvers. Some of the seizures took place in Kg Perlis in Balik Pulau, Sahabudin said.

The case is being investigated under Section 395 and 397 of the Penal Code for gang robbery and attempt to cause death or grievous hurt, which carries a 20 years’ jail term and fine upon conviction.

The suspects are expected to be charged tomorrow.