KUALA LUMPUR: An investment scam syndicate was busted with the arrests of 29 people in four states.
Police secretary Deputy Comm Datuk Noorsiah Mohd Saaduddin said 19 men and 10 women aged between 24 and 38 were nabbed by the Bukit Aman Commercial Crime Investigation Department (CCID) in a series of raids in Kuala Lumpur, Selangor, Perak and Johor on Feb 21.
She added that nine vehicles, 75 mobile phones, 14 laptops, 73 ATM cards and RM14,501 cash were seized in the raids.
DCP Noorsiah said that those arrested have been remanded for further investigations and added that the case is being investigated under Section 420 of the Penal Code.
"We believe the syndicate has been operating for several months. They are behind several suspected fake investment schemes offering high returns. The investments were offered on social media sites," she said in a statement on Saturday (Feb 25).
DCP Noorsiah then said that the schemes believed to have been run by the syndicate include Alpha Mineral Global, Asia Investment VIP and Max Profit.
She added that the police believe that the number of victims is low as the various schemes were newly created.
"However, we urge those who have been victims of the syndicate to come forward and lodge a police report at the nearest police station.
"We also advise the public to be vigilant and perform various checks before investing in any scheme that promises too-high returns," she said.
DCP Noorsiah then said that people should getinformation from verified sources such as Semak Mule, Alert List Bank Negara Malaysia, and Security Commission before making a decision to join any investment scheme.
