Police detain two suspects in investment scam, one still on the run

BALING: Police are looking for a 23-year-old woman in connection with a non-existent investment scam known as ‘Savingbywaniey’ or Free Cash, with losses reported in the region of RM1.2mil.

Baling police chief Supt Shamsudin Mamat said the suspect from Kampung Landak Hilir, Kupang here was believed to have been involved in a number of non-existent investment schemes.

"We are tracking down the suspect after receiving 33 reports involving losses amounting to RM1.2mil.

"However, police detained two local women, both in their 30s, at 5.30pm on Wednesday (Aug 24) to assist in investigations,” he said in a statement on Thursday (Aug 25).

One of the two suspects detained was pregnant and expected to give birth early next month. She was released on bail while the other suspect would be remanded for four days starting today, he said.

The victim, a woman, was promised a return of RM12,000 in two months for her ‘invested’ amount of RM6,000.

Convinced by the scheme, the victim later added RM4,000 and RM2,000, after being promised RM8,000 and RM5,000 in return.

"However, the return for investments were not paid and the woman disappeared. The victim later lodged a police report on Aug 19,” he said.

Supt Shamsudin advised the public to not be fooled by promises of high returns for investments because such investments were not legal and carried out by syndicates involved in scams. - Bernama