RM4.9B LOST TO SCAMS
1.7 million investors have fallen victim, says CCID director
AN estimated RM4.9 billion was lost to 27 investment scams between July 2013 and September this year. Federal Police Commercial Crime Investigation Department (CCID) director, Datuk Seri Acryl Sani Abdullah Sani, said during the same period, police received more than 2,500 reports involving total losses of RM343 million.
Police believe the victims could number more than 1.7 million people.
“We have repeatedly reminded the public not to fall for such scams... There is no genuine investment (scheme) that offers high returns in such a short time,” he said.
The CCID also revealed the list of 27 entities that are being investigated.
Leading the list is JJ Poor to Rich (JJPTR) investment scheme with some 500,000 victims, involving losses of up to RM1.2 billion.
Only 14 reports involving the scheme was lodged, involving RM78,660 losses. Police have opened 10 investigation papers on the case.
In May, three men, including the mastermind of JJPTR, were nabbed.
The Mface or MBI Group International is second on the list, involving estimated losses of RM700 million. Police believe some 350,000 people have become victims but only two reports were lodged.
The cases involving MBI were taken over by the Domestic Trade, Cooperatives and Consumerism Ministry as they have the appropriate law to deal with it.
Another investment scam with at least losses amounting to RM560 million, involving up to 500,000 victims is the Bit Coin — Bit Kingdom investment scheme.
Acryl said police had arrested two men and a woman in Penang yesterday in connection with an investment that offered victims cosmetic products through social media.
The deposits paid by the victims would be invested in Exorbitance Influence Sdn Bhd or Krubal.
Investors were promised a 100 per cent return after three month and gold bars depending on the packages chosen.
Police also seized four luxury vehicles and four laptops