Cops cripple bogus investment syndicate with arrest of nine


  • Nation
  • Friday, 05 Feb 2021

KUALA LUMPUR: Police have crippled a bogus investment scheme syndicate with the arrest of nine men.

Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Comm Zainuddin Yaacob said they received 43 reports on the syndicate involving RM2.82mil in losses.

"On Wednesday (Feb 3), we launched a series of raids in Kuala Lumpur, Selangor and Penang and arrested the nine, aged between 34 and 62..

"The syndicate, which went by the name 'Pelaburan Cryptocurrency Emas Fintech' and used a crypto trading platform, claimed to have cooperation with Binance, Liquid, Kraken and Okcoin cryptocurrency exchange services," he told reporters on Friday (Feb 5).

He said the syndicate promised returns on investments to the tune of between 10% and 15%.

"We seized five luxury vehicles including four BMWs, as well as a number of items including a hard disc, 10 ATM cards, 12 credit cards, 20 mobile phones, six laptops and RM27,600 cash.

"Although we received 43 reports, we believe there are more victims out there who have yet to come forward," he said.

Comm Zainuddin said police were seeking to locate a man, Jason Kellady (pic), 32, to help in their investigation.

Those with information on Kellady or the syndicate can contact Insp Nur Ainie Baharudin at 012-462 3442 or 03-2774 0222.

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Police , Arrest , Scam , Syndicate , Investment , Zainuddin Yaacob

   

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