Three arrested in Kluang over investment scams, RM3.5mil in cash alone cash seized

JOHOR BARU: Police have arrested three suspects, including a newly-minted Datuk in Kluang who were allegedly part of a syndicate offering fake investment schemes.

Johor police chief Comm Datuk Ayob Khan Mydin Pitchay said the trio, comprising two men and a woman, were arrested at a two-storey house in Taman Sri Kluang herre at around 9pm on Nov 24.

He said one of the suspects was a 40-year-old who had just received his datukship this month.

“We believe that the suspects, aged from 27 to 40, have been offering non-existent cryptocurrency and forex schemes to unsuspecting victims for the past two to three years.

“They lured their victims locally and from other countries including Singapore, Brunei and China by offering attractive returns within a short period of time.

“We also seized stacks of cash amounting to RM2.1mil, foreign currency worth RM1.4mil, two luxury cars, 12 luxury watches, 22 gold bars, credit cards and other valuables, ” he said at a press conference on Thursday (Nov 26).

The seized items amounted to RM4.6mil in total.

He added that the suspects have been remanded until Nov 27 for investigations under Section 420 of the Penal Code, which carries a jail term of not less than one year and not more than 10 years, caning and a fine, upon conviction.

Comm Ayob urged those who have invested in similar schemes to come forward to aid in police investigations.

Police are in the midst of identifying more syndicate members who are still at large, as well as possible victims, he said.

He also advised the public to be more careful and not to believe in investment schemes which appear too good to be true.

Those with information about the case can get in touch with the police via the Johor police hotline at 07-221 2999.

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?


100% readers found this article insightful

Next In Nation

'Hotpot' Datuk, friend plead guilty to assaulting young couple
No Thaipusam public holiday for Kedah this year, says MB
Pakatan submits three names for independent committee to advise King on Emergency
Asean needs new cybersecurity laws to combat transboundary crimes online, says Muhyiddin
Covid-19 accelerated growth of Malaysia's digital economy, says PM at Asean meeting
Police probe viral videos of Covid-19 patients gambling at quarantine centre
Elderly couple killed in collision with lorry
Malaysia committed to helping Asean secure data flow, enhance cybersecurity, says Saifuddin
Jho Low's alleged 1MDB accomplice pardoned by Trump
Medical assistant dies after falling from third floor of hospital

Stories You'll Enjoy