Investment scam ring busted, 10 nabbed in Puchong raid
SERDANG: An investment scam syndicate has been busted in a raid on a call centre in Bandar Puteri Puchong.
A total of 10 suspects, seven men and three women, were arrested during the operation.
Serdang OCPD Asst Comm Muhamad Farid Ahmad said the raid was conducted at about 2.30pm on Friday (June 20).
"We detained the suspects, aged between 30 and 40, including the ringleader.
"So far, four victims have come forward with almost RM400,000 in losses," he told a press conference at Serdang district police headquarters on Monday (June 23).
Various items worth RM45,000 were seized, including six laptops, 14 mobile phones, a modem and three monitors, he added.
"The syndicate used online platforms to mimic foreign exchange schemes to dupe victims.
"We believe they have been operating for about six months," he said.
ACP Farid said the syndicate targeted mostly locals.
"However, there are victims from Indonesia and India.
"The syndicate would promise high returns within a short time to entice its targets," he said.
He advised anyone planning to invest in a scheme to verify its authenticity with the Securities Commission first.
"It is unfortunate that some people were duped by the promise of huge returns within a short time (and) failed to check the legitimacy of the scheme," he said.
The suspects were remanded for one day Saturday (June 21) but were rearrested by Ampang Jaya police for a similar scheme in that district, he added.
COMP
COURTS CRIME
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
41 minutes ago
- The Star
Three police reports lodged over KL rally, says Dang Wangi OCPD
KUALA LUMPUR: Police have received three reports about an incident that occurred during a rally held in the capital on Saturday (June 28) afternoon, including a scuffle that resulted in minor injuries to a police personnel. Dang Wangi OCPD Asst Comm Sulizmie Affendy Sulaiman said the rally, which was joined by about 100 people, began at 3.02pm outside a shopping mall along Jalan Tuanku Abdul Rahman before it proceeded to Dataran Merdeka, Jalan Raja. A participant lit a flare at about 4.30pm, causing thick smoke that could have threatened the safety and health of other participants, security personnel and the public in the vicinity. "The police took preventive measures to control the situation but there was a scuffle between participants and personnel. A police personnel suffered minor injuries," he said in a statement Saturday. An investigation paper was opened under Section 353 of the Penal Code, as well as Section 3(5) and 14 of the Minor Offences Act 1955. He also advised the public not to speculate as it could disrupt investigations and to channel related information to the Kuala Lumpur police hotline at 03-2115 9999 or the Dang Wangi police headquarters control centre at 03-2600 2222. - Bernama
Barnama
2 hours ago
- Barnama
Retired Woman Loses RM436,000 In Online IPO Investment Scam
GEORGE TOWN, June 28 (Bernama) -- A 62-year-old retired airline programme manager recently lost RM436,000 of her life savings after falling victim to an online investment scam involving fake initial public offering (IPO). Penang Deputy Police Chief Datuk Mohd Alwi Zainal Abidin said the woman lodged a report with the Timur Laut Commercial Crime Investigation Division after discovering she had been deceived by a fraudulent scheme. The scam was promoted through a WhatsApp group called 'enspire capital', which promised high-returns through IPO investments. The victim was instructed to download an app named 'freeman plus' as the investment platform. 'Between May 12 and June 2, she made 56 fund transfers to four different company accounts. Despite the promises, she received no returns. Instead, the suspects kept requesting additional payments,' he said in a statement tonight. Investigations found the victim used her personal and Employees Provident Fund (EPF) savings to finance the so-called investments. Mohd Alwi said efforts are ongoing to identify and track down the syndicate responsible. The case is being investigated under Section 420 of the Penal Code for cheating. -- BERNAMA
New Straits Times
2 hours ago
- New Straits Times
Former programme manager loses RM436k in non-existent IPO investment scam
GEORGE TOWN: Police have opened an investigation paper into a non-existent investment scheme that left a 62-year-old woman RM436,000 poorer, following a series of transactions involving four different companies. The case is being investigated under Section 420 of the Penal Code for cheating. Penang deputy police chief, Datuk Mohd Alwi Zainal Abidin, said the victim, a former programme manager with an airline company, was lured by an online advertisement for high-return IPO investments and lodged a report on June 12. "Initial investigations revealed that the scam was carried out via a WhatsApp group known as 'Enspire Capital', which promoted what appeared to be legitimate investment opportunities. "The victim was then instructed to download a mobile application called 'Freeman Plus', which allegedly served as the investment platform. "Between May 12 and June 2, the victim made 56 money transfers to four separate company accounts, believing she was investing in a lucrative IPO scheme," he said in a statement. Alwi said no returns were received as promised, and the perpetrators continued demanding additional funds until the victim realised she had been duped. "The total amount lost comprises the woman's personal savings and funds withdrawn from her Employees Provident Fund (EPF) account," he added.
