KUALA LUMPUR: A senior citizen was arrested for allegedly being the mastermind of a bogus bank investment scheme.
Police Force secretary Deputy Comm Datuk Noorsiah Mohd Saaduddin said the woman was detained after two reports over the scam were lodged.
“The 60-year-old woman was arrested by police from the Commercial Crime Investigation Department on Thursday.
“Based on investigations, the woman has a prior record for two investment scam cases involving the sale of diesel,” she said in a statement yesterday.
She added the alleged scam began operating early this year by offering participants between 30% and 70% returns on investment.“Our checks also found that the purported investment scheme also offered share slots with a promise of profits of up to 100% within 72 hours.
“Investors, however, realised that the profits promised were never paid shortly after they transferred the money,” she said adding that the suspect has been remanded for five days.