Datuk Seri Nabbed Over Allegedly Fraudulent Investment Scheme
Police have nabbed a 39-year-old Datuk Seri from Melaka over an allegedly fraudulent investment scheme that caused losses of at least RM3.75mil.
Federal Commercial Crime Investigation Department director Comm Datuk Seri Acryl Sani Abdullah Sani said his department had received a total of 113 reports on the Kongsi Makan Investment Scheme Bhd.
"Based on these reports we formed a task force and raided a house in Melaka and arrested a Datuk Seri who is believed to be the mastermind of the scheme" he said when contacted on Tuesday, 19 September.
He said that investigations have identified the Datuk Seri as the chairman of the company, adding that a Range Rover, two mobile phones and various company documents were seized.
"We have handed over all the seized items and the suspect to the Kuala Lumpur CCID. The suspect has been remanded for three days for investigations into fraud" said Comm Acryl Sani.
He said investigations revealed the company was set up in 2015 and was still actively operating today, adding that the company claimed to be helping small and medium industries by selling their products through stockists owned by the company.
"The investor only had to pay RM1,700 as a membership fee and was promised between RM800 and RM1,200 after three months. Our investigations also revealed that there were between 70,000 and 80,000 people participating in the scheme" he said.
Comm Acryl Sani said that bonuses were never paid out to the investors.
He added that police would be taking action against the company under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
Comm Acryl Sani urged the public to be cautious and avoid being duped by fraudulent schemes.
"If you are offered returns on investments that are higher than what the market offers, check with the various government agencies or authorities immediately," he said.
Comm Acryl Sani added that cooperation between the police and the public was the key to curbing such activities.
"Lodge a police report immediately if you think any investment scheme is fraudulent" he said.