SYN­DI­CATE BUSTED

New Straits Times - - News -

adding that the modus operandi of the syn­di­cate was to lure in­vestors who were will­ing to in­vest be­tween RM2,000 and RM40,000 in the scheme.

In­vestors were promised that they would re­ceive their profit daily.

Acryl said at least 23,259 in­vestors were be­lieved to have fallen vic­tim to the scam, with to­tal losses amount­ing to RM80 mil­lion.

The vic­tims only re­alised that some­thing was amiss when they did not re­ceive any profit af­ter in­vest­ing. This led to nu­mer­ous re­ports be­ing lodged.

Fol­low­ing re­ports, CCID launched Op Nuri 3/17 at sev­eral lo­ca­tions in Kuala Lumpur, Pa­hang and Se­lan­gor, and nabbed five men and a woman aged be­tween 28 and 38.

The sus­pects have been re­manded for in­ves­ti­ga­tions un­der Sec­tion 3(1) of the Pre­ven­tion of Crime Act 1959 Amend­ment 2014.

Po­lice also seized a lap­top, 10 mo­bile phones, ATM cards and five ve­hi­cles worth RM750,000 from the sus­pects.

It has been re­ported that the busi­ness mod­ule of the com­pany was sim­i­lar to the pyra­mid sys­tem as­so­ci­ated with Ponzi schemes, and the com­pany was reg­is­tered in New Zealand with a vir­tual ad­dress.

Apart from Malaysians, it is also be­lieved to have in­vestors from other coun­tries, al­though the com­pany had al­legedly been op­er­at­ing its busi­ness il­le­gally with­out a bank­ing and fi­nan­cial ser­vices li­cence from Bank Ne­gara.

Datuk Acryl Sani Ab­dul­lah Sani

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