KUALA LUMPUR, Dec 11 — A total of 51 police reports have been lodged regarding a foreign exchange (forex) investment scam resulting in RM11.9 million in losses, said Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf.
According to The Star, Ramli said that the syndicate is masterminded by several locals and Indonesians.
“They used a company based in Indonesia as a broker to handle financial transactions. We also identified two other companies involved in promoting the investment scheme face-to-face to the investors,” he said in a statement today.
He said that a local man and an Indonesian man were detained on September 9 and October 25, respectively.
“We are investigating under Section 420 of the Penal Code for cheating,” he added.
He urged victims of the syndicate to come forward and lodge police reports at the nearest police station.
“We advise the public to always be vigilant and conduct due diligence before joining any investment scheme, especially those that promise returns that are too high or too good to be true.
“Get pertinent information on any investment scheme from official sources such as the SemakMule portal, Bank Negara Malaysia, or the Securities Commission before deciding to join any investment scheme,” he added.
