Loan scam syndicate responsible for RM500k worth of losses busted


  • Nation
  • Thursday, 22 Nov 2018

KUALA LUMPUR: A loan scam syndicate responsible for 32 cases, resulting in some RM500,000 worth of losses, was busted.

This follows the arrests of 21 people - 16 men and five women - as well as seizures of 53 mobile phones, three vehicles, five laptops, and 17 note books with details of 1,707 victims in total.

The syndicate would advertise their services online, as well as on WhatsApp. They would then entice the victims by claiming only 0.5% interest, but they would fool them by charging multiple fees for the "loans" to be approved.

In the end, after the last fees are paid up, the syndicate would disappear with all the money.

Bukit Aman Commercial Crime Investigations Department (CCID) deputy director Deputy Comm Datuk Saiful Azly Kamaruddin said the police conducted raids on a house and eight condominium units in Kajang and Batu 9, Cheras on Nov 13.

"We believe the syndicate has been in operation since August.

"They are responsible for some RM500,000 in losses," he told a press conference at the CCID headquarters on Thursday (Nov 22).

Among the drugs seized were 6,270 erimin 5 pills, more than 1,600 ecstasy pills, and 1kg of ketamine.

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