KUALA LUMPUR: According to Bukit Aman, 42 investigation papers remain open on three investment firms that allegedly cheated over 500 victims. Federal Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Ramli Mohamed Yoosuf shared this information in response to the complaints of around 500 victims forwarded by the Malaysian International Humanitarian Organisation (MHO) to the National Anti-Financial Crime Centre (NFCC) on Dec 19.
Comm Ramli identified the three companies as Radiance Asset Berhad, Planetrade Holdings Sdn Bhd, and The Rain Maker MGMT Sdn Bhd. He mentioned that “All police reports on cheating or criminal breach of trust will lead to an investigation under the appropriate sections of cheating and criminal breach of trust under the Penal Code.”
He further explained that cases of investment fraud usually involve other laws such as the Capital Markets and Services Act 2007, Financial Services Act 2013, and Companies Act 2016, which would be investigated by the relevant agency. Comm Ramli also added, “When a police report is lodged, the CCID will advise complainants to refer their reports to the relevant agency if needed.”
The CCID has received 547 police reports regarding the three companies named by the MHO, and has opened and investigated 62 investigation papers under Section 420 of the Penal Code for cheating. Comm Ramli mentioned that out of the 42 active investigation papers, 14 cases have already been brought to court, while four cases have been deemed as “no further action” (NFA) after the complainant retracted their report.
