PETALING JAYA: Police have arrested four members of a syndicate who had been offering non-existing loans.
"On March 1, a team from the Bukit Aman Commercial Crime Investigation Department (CCID) conducted raids in the Klang Valley, which led to four suspects arrested. Also seized was a book which listed details of the
non-existing loans, 10 handphones, and five ATM cards.
The syndicate offered these unexisting loans to victims via telephone or messages. They will then instruct the victims to pay various fees upfront such as legal fees, insurance fees and agreement fees," said CCID director Datuk Comm Zainuddin Yaacob in a statement Thursday (March 4).
He added that once the payments were completed, the syndicate would break all contact from the victims.
In an unrelated matter, the CCID had arrested 21 suspects linked to various investment scams between February and March.
The four scams identified were: Likeshare, Zan Zan Lee, iSharefans and E-currency Investment schemes.
The raids were conducted in Johor, Selangor, Kuala Lumpur, Penang and Kelantan.
"Investigations showed that syndicate members would promote their schemes online. Victims will then be told that they would be receiving massive profits in a short period of time by just investing a small sum.
'The groups will disappear after victims put in large sums of money to 'invest'," he said.