10 nabbed as cops bust investment scam that duped victims of almost RM22mil

The Star

Police have arrested 10 people in connection with an investment scam that misused the name of a reputable firm to dupe 44 victims out of RM21.9mil.  Read more at https://shorturl.at/9ymD9  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00I would like to share with you a little bit of information regarding the syndicate of

00:08embezzlement.

00:09On July 30 and 31, 2024, several embezzlements were carried out in Selangor, Kuala Lumpur,

00:18Johor, Perak, Kedah, Sabah and Sarawak.

00:22As a result of the embezzlement, 10 individuals, consisting of 5 men and 5 women, local residents

00:29aged 21 to 52 years old, were detained.

00:35All those detained are believed to be the owners of the company, as well as the business

00:41and directors of the company who used the syndicate's embezzlement activities.

00:46The syndicate is suspected to have started operations around the beginning of 2024 and

00:51is fully operational.

00:55The syndicate uses the name of the world's leading investment company, namely Warbuck

01:00Pincus, to assure the victims that the investment is genuine.

01:07Investment promotion ads are made by applying Facebook's algorithm system to guarantee

01:15the optimal return.

01:16A return of 11% to 15% per month is offered to investors to attract their attention.

01:24The syndicate is also offered the service of Che Gue Trading to guide investors to

01:32maximize their income.

01:34To participate in the investment, the victim is asked to download a fake application

01:40sent via WhatsApp.

01:43The victim is then asked to deposit the money to a bank account in the name of the company

01:49and the business before starting the investment.

01:53In the end, the victim cannot make a profit.

01:58So far, 44 health cards have been opened against this embezzlement syndicate,

02:03involving a loss of Rp21,933,640.40.

02:14A total of 20 bank accounts owned by various businesses and companies have been identified

02:20as being misused as bank accounts to receive money from the victims involved.

02:27A case is being investigated under Section 420 of the Penal Code.

02:31So far, the investigation has succeeded in making a claim under Section 50,

02:37Bracket 1, Amblat Pua 2001, against 35 bank accounts with a total value of Rp162,598.53.

02:52If you want to make an investment, do it safely through the investment schemes

02:57adopted by the investment powerhouses in this country,

03:02such as Surajaya Security Malaysia and Bank Negara Malaysia.

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