KUALA LUMPUR: A new investment scam has been detected by police here which resulted in over RM8.54mil in losses.
City police chief Comm Datuk Mohd Shuhaily Mohd Zain said they have received 13 police reports so far involving the Personal Banc Berhad scheme.
"Based on our checks the scheme was offering between 20% and 30% returns monthly to investors.
"The investors started lodging reports at the end of June when the company failed to pay its investors," he told reporters on Monday (July 31).
He said investigations revealed the lowest investment made was RM50,000 while the highest was RM3.25mil.
"Checks revealed that the investors found out about the scheme via social media.
"We urge anyone who has fallen victim to the scheme to come forward and lodge police reports immediately," he said, adding that the case was being investigated as cheating.
Those with information on the case should contact the police hotline at 03-2146 0584 or 03-2146 0585.