ALOR SETAR: Police arrested a 43-year-old man who allegedly ran a money game scam and cheated more than 10 people of RM3.5mil in Kedah.
Deputy state police chief Deputy Comm Sahabuddin Abd Manan said the suspect was arrested in front of a bank in Kota Sarang Semut at about 4.30pm on Monday.
“He managed to convince his victims to invest in his forex scheme by promising a 50% return on their investments within two weeks.
“The promise was never fulfilled and he fled with their money,” he told reporters yesterday.
The suspect was remanded for four days by a magistrate’s court pending investigations into the case which has been classified as cheating under Section 420 of the Penal Code.
DCP Sahabuddin said one of the victims was a 24-year-old businessman who lodged a report after he failed to get his RM50,000 investment into the scheme about a year ago.