KUALA LUMPUR, Sept 24 — The Bukit Aman Commercial Crime Investigation Department (CCID) has detained 17 individuals suspected of being involved in a large-scale investment scam that misused the name of a legitimate UK-based investment firm.
According to CCID director Datuk Seri Ramli Mohamed Yoosuf, the suspects, aged between 23 and 52, were arrested in Kuala Lumpur.
They were reportedly linked to the “Pantheon Ventures” scam, which falsely posed as a legitimate investment company, according to a report published in The Star today.
“They worked as a company director, a secretary and agents tasked with finding mule accounts for the syndicate,” said Ramli at a press conference held at CCID headquarters on Tuesday (September 24).
Among the items seized during the arrests were 13 mobile phones, a laptop, six ATM cards, and a bank statement.
The CCID has opened 66 investigation papers on the scam, which has resulted in losses of RM32.9 million since January.
“A total of 20 bank accounts comprising seven company accounts, 12 business accounts and a personal account were used by the syndicate,” he revealed.
Operating entirely online, the syndicate duped victims by claiming to be affiliated with Pantheon Ventures, a legitimate investment firm established in the UK in 1982.
However, the actual company had no ties to the syndicate, he said.
The syndicate leveraged Facebook for advertisements and communication with potential victims, said Ramli.
“They offered daily returns ranging from 6 per cent to 400 per cent, depending on the investment packages, and even claimed a so-called ‘trading guru’ would guide investors.”
Victims were instructed to deposit money into designated accounts and were asked to download apps such as APEX and NEEQ through Google Play and the App Store.
Despite promises, no returns were ever delivered.
The CCID is continuing its investigation and is seeking seven more individuals to assist with the case.
