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KUALA LUMPUR: Police have paralyzed a fraudulent investment syndicate with the arrest of 10 suspects.
The director of the Federal Commercial Crime Investigation Department (CCID), Comm Datuk Zainuddin Yaacob, said police launched a series of raids in Kuala Lumpur, Cyberjaya, Shah Alam and Kajang and arrested 10 suspects, including a local woman and a Indonesian woman on Thursday (November 19).
“We received 72 police reports and opened 28 investigation documents that implied losses of approximately $ 20.52 thousand.
“Our investigations revealed that the mastermind had hired agents to find investors. They promised returns of between 5% and 8% to the victims,” he told reporters at the CCID federal headquarters on Monday (November 23).
He said police seized a Ford Mustang, Porsche Macan, four BMW cars, an Audi, a Range Rover Evoque and two Toyota Vellfires worth RM1.21 thousand.
“We also seized 17 mobile phones, seven laptops, four desktop computers, 14 ATM cards, four company stamps, 40 investment related documents and RM 10,000 in cash.
“The mastermind in his 40s and his Indonesian girlfriend were arrested in a luxury condominium in Shah Alam,” he said, adding that all the suspects were detained for five days to assist in further investigations.
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