Police bust international investment scam syndicate, arrest 49 individuals

Police bust international investment scam syndicate, arrest 49 individuals

KUALA LUMPUR,. Police have busted an online investment scam syndicate targeting Europeans with the arrest of 49 people in a raid on a premises in Jalan Bukit Bintang here on Feb 6.

Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said the suspects were two locals and 47 foreigners, including 11 from Guinea, eight from Algeria and four each from Togo and Ukraine.

Three people each from Morocco and Mauritius, two each from Cameroon, Congo, Ivory Coast and Tunisia, as well as one person each from Armenia, Senegal, Haiti, Djibouti, Madagascar and Chad, aged between 20 and 41, were also arrested.

“Preliminary investigations revealed that the syndicate has been active for six months. It is suspected to be forex investment fraud targeting people in France, Ukraine, the UK and Switzerland.

“They are believed to be sending random text messages to victims via the Telegram application, in addition to placing links to online investment advertisements on the Riacapital website,” he said at the CCID’s weekly press conference today.

Police also seized 47 computers, 49 mobile phones, six laptops and two televisions, he said, adding that the case was being investigated under Section 420/511 of the Penal Code.

Ramli said investigations also revealed that the two Malaysians were believed to have acted as facilitators or helped bring the syndicate members here, while the arrested foreigners had expired visitor passes and were misusing student identity cards.

“The two local citizens were released on bail after their remand ended on Feb 10. A foreign woman was also released on bail on Feb 8 because she was pregnant.

“The rest of the suspects are being remanded until Feb 23 and 24 under the Immigration Act 1959/63,” he added.


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