SEREMBAN: In an ongoing investigation, the police have uncovered 25 cases of a share investment scam across Malaysia, resulting in losses amounting to RM4.2 million, according to Dep Comm Datuk Ahmad Dzaffir Mohd Yussof. The scam revolves around a company promising investors monthly returns of two to five per cent. Two cases were reported in the state of Negri Sembilan in March, leading to the opening of two investigation papers earlier this month. DCP Ahmad Dzaffir added that two bank account holders, both aged 44, have been arrested, and the search for more suspects is underway. A male suspect was apprehended in Kuala Lumpur, while a female suspect was detained in Sabah.
In the first case reported on March 2, a 71-year-old man from Port Dickson lost RM550,000 through the scheme. The victim was lured into the scam via Facebook and WhatsApp and subsequently transferred the funds to two bank accounts. Similarly, on March 3, a 49-year-old woman lost RM132,688 after discovering the scheme on social media and transferring the money into five separate bank accounts. Both cases are being investigated under Section 420 of the Penal Code, which carries penalties including a jail term of one to 10 years, whipping, and a fine upon conviction.
DCP Ahmad Dzaffir urges the public to exercise caution and not be swayed by schemes offering high returns. He emphasizes the importance of verifying the background of companies promoting such schemes with authorities like the police or Bank Negara before investing. Those who believe they have fallen victim to scams are encouraged to report the matter promptly to the National Scam Recovery Centre hotline at 997.
Credit: The Star : News Feed
