Scam victim turns scammer

JOHOR BARU: First, he fell victim to a fake investment scheme. Then, he took a loan from a money lender. Unable to repay the loan, he and his wife then turned scammers, starting an illegal get-rich-quick scheme.

The couple used social media to con dozens of people around the country including in Johor, Penang, Perak and the Klang Valley.

Their operation went undetected for at least four months as they tried to stay “under the radar” by offering small amounts as initial investments.But police soon got wind of their activities and Bukit Aman commercial crime investigation officers carried out a series of raids in Perak and arrested five people, including the couple.

The suspects, in their 20s and 30s, included the moneylender’s son and a company owner. The five, two of them women, have been remanded.

A Bukit Aman official said the main suspect had lost a substantial sum in a similar get-rich-quick scheme when he took a loan from the moneylender’s son earlier this year. He was unable to repay the moneylender’s son and could not stand the latter’s constant harassment.

He then devised a plan together with his wife and got the moneylender’s son on board to set up a company and advertised their “investment opportunities” via social media.

“They hired a man in his 20s to set up a company and open up bank accounts. The suspects then posed as women on social media offering financial advice, including the opportunity to double one’s investment within a week.

“The smallest amount invested was RM50 while some investors pumped in thousands of ringgit,” the source said, adding that one investor in his 30s from Skudai invested almost RM9,000.

Police estimate that more than 100 people nationwide could have been duped in the scheme. A Bukit Aman official said investigations are being carried out under Section 137(2) of the Financial Services Act 2013 for receiving deposits without a valid licence.Meanwhile, Johor police chief Comm Datuk Kamarul Zaman Mamat said state police had received 16 reports of fraud involving illegal investments, resulting in a total loss of RM1.08mil within a week. He said the cases were recorded from Oct 20 to 26, with losses starting from RM300 to RM315,469.

“Victims are tricked into investing in non-existent investment companies with the promise of high profits within a short time,’’ he said in a statement.

Comm Kamarul Zaman said among the companies purportedly offering the investment schemes were Pslus Aers Investment, Bitcoin, Fxpro, BF8 Coin and Sedia Investment Promotion. He said the others were MIDF, Aico, App, Krypto Yomaex, Domain, Basic Plan LN (606) and Delta.He advised the public to be vigilant, particularly when dealing with financial matters.

“They can get the latest information regarding commercial crime modus operandi via the Johor police contingent’s social media platforms like Facebook, Instagram and TikTok,” said Comm Kamarul Zaman.

For more information, the public can contact the National Scam Response Centre at 997.