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KUALA LUMPUR: Two investment scam syndicates behind RM5.6 thousand in losses were arrested following the arrests of 13 suspects.
In the first case, police conducted several raids in Johor, Melaka, Negri Sembilan, and Kuala Lumpur on Sunday (December 13), in connection with the Aliexchange cryptocurrency investment scam on Monday (December 14).
Bukit Aman’s Commercial Crime Investigations Department (CCID) director Comm Datuk Zainuddin Yaacob said nine suspects, including three women, were arrested in the series of raids.
“One of the men arrested is the mastermind of the union.
“We received 27 police reports on the investment plan that resulted in RM4.7 thousand.
“The union was in operation from March to October last year,” he told a press conference at Bukit Aman CCID headquarters on Friday (December 18).
Among the items seized are 11 mobile phones, 20 ATM cards, five luxury vehicles and RM 109,594 in cash.
The scheme used the cryptocurrency platform “AliCoin,” he added.
“Each investor has access to view their alleged investment through the AliExhange application.
“The union lured investors by promising returns of 5% to 15%, but it was a hoax.
“They also used Europeans as speakers at seminars organized by them to make it appear that their investment is legitimate,” Comm Zainuddin said.
The victims were also required to purchase the company’s digital currency, AliCoin, he added.
“An AliCoin is priced at RM4.70 and a minimum investment is priced at 10,000 AliCoin or RM47,000.
“Victims would realize that they were duped when they did not receive the promised returns and the company’s application is not accessible,” he said.
Comm Zainuddin advised the public not to be fooled by such “get rich quick” schemes or the testimonials of so-called successful investors.
“No investment would offer great returns in such a short time.
“In Malaysia, the Securities Commission only allows three companies to trade Bitcoin,” he added.
In a separate case, Comm Zainuddin said that a man, known as “Datuk Nadim” and three women were arrested in connection with the Goldmine International investment scam.
“They were arrested on Thursday (December 17) after raids in Selangor, Kuala Lumpur and Kedah.
“We received nine police reports on the scheme that resulted in losses of RM930,920.
“Among the items seized were three mobile phones, a paper bag full of RM13,600 in cash and some ATM cards,” he said.
The union executed a gold investment plan with various packages to attract clients, Comm Zainuddin said.
They promised investors between 10% and 13%, profitability based on the amount invested.
“Agents who find investors also receive commissions based on the number of investors,” he added.
Comm Zainuddin said the union has been active from September last year to November this year.
“We believe that greed is one of the factors that explains how the union deceived the victims.
“Use official online platforms such as the SemakMule site or websites belonging to Bank Negara Malaysia and the Securities Commission to verify companies or investment plans,” he said.
Comm Zainuddin also urged the public to continue to provide information on any scams so that swift action can be taken.
“Our focus for this year and next is to go after investment scam syndicates,” he said.
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