IPOH: Perak Commercial Crime Investigation Department arrested 11 suspects in connection to a cryptocurrency investment scam during a raid at a hotel on Jan 20. The syndicate targeted 55 participants with a promise of daily returns based on invested capital, according to Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf.
Seven local men, two Filipino men, and two local women were apprehended, operating under the name “D’Luxe” and using an AI robot system to deceive investors, especially those unfamiliar with cryptocurrency trading, Ramli said. The suspects began promoting the fraudulent investment scheme in the month and were involved in organising, sponsoring, speaking and recruiting customers during the cryptocurrency seminar.
“Most of the seminar participants were locals aged between 40 and 60. They did not understand cryptocurrency trading and were unaware that the AI Trading Bot online platform was actually a trap to deceive investors,” he told a press conference on Wednesday (Jan 24).
The raid resulted in the seizure of various items, including mobile phones, laptops, scripts, checks, and six different types of vehicles. The suspects have been remanded until further notice, and the case is being investigated under Section 420 of the Penal Code, Ramli said.
Meanwhile, three local men in the Klang Valley and Pahang were arrested for their involvement in a China-based cryptocurrency project named “CCGDS” in 2022, according to Ramli. The suspects, aged between 35 and 55, collected funds from 20 investors, resulting in a loss of RM12mil.
The unit seized cryptocurrency worth USD54,996.8, with a current estimated value of RM259,955.80, and the three suspects have been remanded until tomorrow, with efforts out to track down other suspects still at large, Ramli said. He advised the public to exercise caution and conduct thorough research before participating in any investment schemes, and to seek information from reputable sources to avoid falling victim to fraudulent activities. – Bernama
