Datuk among 10 arrested in forex investment scam
KUALA LUMPUR: A Datuk was among 10 arrested by the police for links to a forex investment scam involving nearly RM3mil in losses.
They also seized branded watches and 6kg of gold bars valued at RM127mil.
Federal Commercial Crimes Investigation Department director Comm Datuk Mohd Kamarudin Md Din said the syndicate was crippled following a string of operations in Perak, Selangor, Kuala Lumpur, Melaka and Johor on Saturday.
“We arrested 10 suspects, aged between 29 and 64, comprising nine men and a woman.
“Several vehicles, documents and items which were linked to the investment scam were also seized,” he told reporters yesterday.
Comm Mohd Kamarudin said investigations showed the syndicate began operations in 2018 and all those arrested acted as brokers, agents, financial managers and account holders.
“The syndicate targetted local investors and promoted investment schemes based on forex which promised between 12% and 14% returns on investments weekly.
“The investors would be told that their money would be invested by a company called GCG Asia with access given through a website to monitor their investments,” he said,
“Once the syndicate had achieved its investment target, it would cut off communications with the investors and halt the operation,” he said.
Comm Mohd Kamarudin said they received a total of 23 police reports so far.
“Our investigations showed the mastermind is a Datuk, in his 40s, who claimed to be a Datuk Seri.
“Checks also revealed the suspect has a Master’s in business administration,” he said.
The suspects have been remanded to facilitate investigations.
Comm Mohd Kamarudin urged the public to always check with the relevant authorities as well as Bank Negara before making any investment.
“The public can also cross check bank accounts and mobile phone numbers via http://ccid.rmp.gov.my/semakmule/ to make sure the accounts are not linked to previous scams,” he said.
Those with queries can call the Scam Response Centre hotline at 03-2610 1559 or 03-2610 1599.