Cops investigating investment scam active since 2015, one arrested so far


KUALA LUMPUR: An investment scam syndicate active since 2015 has been duping victims into making small investments while offering huge returns.

They duped their victims by promising RM1mil in returns on an investment of just RM100.

Operating similar to a multi-level marketing scam, leaders and sub-leaders were appointed to bring in more "investors" into the fray.

Gombak OCPD Asst Comm Arifai Tarawe said they received five reports in connection with the syndicate.

"Based on these complaints, we raided a condominium unit at Jalan Bukit Idaman Selayang at around 10.15pm on Oct 16 and arrested a 54-year-old woman.

"After questioning the suspect, we learnt of the involvement of a 53-year-old man, who acted as the leader of the syndicate known as the 'Barclays Private Investment Project'," he told reporters at the Gombak police headquarters on Monday (Oct 19).

He said further questioning of the suspect revealed they had been active since 2015 and claimed to have 182 shareholders, 68 still active, under her.

"The suspect also confessed to collecting over RM2mil from investors which was funnelled into the account of the leader.

"She also claimed she would receive between 10% and 30% of the investments made," he said, adding that the case has been classified as cheating under Section 420 of the Penal Code.

ACP Arifai said police were now looking for Lukman Hakim Abdullah and Norlela Omar to assist in further investigations.

He also urged anyone else who had fallen victim to the syndicate to come forward and talk to Insp Siti Khatijah Ibrahim, the investigating officer on the case, by calling 03-6216 2222.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Nation

Maria Chin apologises to Pakatan supporters for not rejecting Budget 2021 at policy stage
Tongkang Pecah in Batu Pahat put under CMO
Anwar may have wanted to avoid King's anger in directing Pakatan MPs to back Budget 2021 at policy stage, says Kadir Jasin
Court sets aside fine, jail sentence against former DBKL executive director for power abuse
Bullets in the mail: Cops nab three, looking for one more over threat to Customs officer
PM: Covid-19 vaccines for 6.4 million Malaysians as early as January next year
Man arrested for allegedly raping eight-year-old after enticing her with candy
Colleagues of Gemilang cluster index patient in JB screened for Covid-19
Gerakan lodges MACC report over Penang’s funding for comics museum
Three lose a total of RM40k after being duped by separate loan scams

Stories You'll Enjoy