Police have arrested seven local men believed to be members of a syndicate involved in operating non-existent online investment schemes, resulting in significant financial losses for the victims.
The arrests were made following an investigation by the police, who have been cracking down on various fraud syndicates in recent months. In a similar case, five individuals, including an elderly woman, were arrested in Penang for their suspected involvement as mule account holders for several fraud syndicates. These syndicates were running scams such as non-existent online forex investment schemes and fake online part-time job offers.
In the case of the seven men, they are alleged to have been part of a syndicate that lured victims into investing in fake online investment opportunities. This is not an isolated incident, as there have been multiple reports of such scams across Malaysia. For instance, in Melaka, seven members of a syndicate were arrested for running fake jobs and investment opportunities scams, which resulted in losses amounting to RM466,380.
The police have been proactive in addressing these scams, often relying on public tip-offs and intelligence gathering. In the Penang case, the arrests were made based on public tip-offs and intelligence conducted by the police. The Southwest District Police chief, Supt Kamarul Rizal Jenal, mentioned that the suspects were arrested after it was found that a total of RM145,000 was transferred via several online transactions into different bank accounts, including those of the suspects.
The scams often involve lucrative but false promises. For example, in one case, a victim was offered a part-time job with a high salary but was required to make an initial payment. The victim subsequently made several cash transactions totaling RM20,352.41 into various bank accounts.
All the suspects in these cases have been remanded, and the investigations are ongoing under Section 420 of the Penal Code for cheating. The police continue to warn the public about the dangers of such scams and encourage vigilance in financial transactions.
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