Police detain man involved in get-rich-quick scheme

KOTA BHARU: The police have arrested a man on suspicion of deceiving 50 victims who incurred losses amounting to RM515,000 through the introduction of a get-rich- quick scheme since the beginning of last year.

Kelantan Police chief Datuk Dr Ab Rahman Ismail said the suspect, 36, was detained in Kuala Krai yesterday, after a report was lodged against him by a victim who is also a teacher.

“Initial investigation found the suspect established an investment scheme by appointing the teacher as his partner with the first investment totalling RM15,500. With the amount invested, the teacher was expected to earn RM3,000 per month for the next five years. The teacher was also promised a commission of RM500 for each new investor brought into the scheme and has managed to collect about 50 investors until this month,” he told reporters at the state police headquarters here.

Abdul Rahman said, however, the teacher began to suspect something went amiss after not getting profit and commission as promised after nearly two years of investing and lodged a police report. He said the suspect was remanded for three days starting yesterday for investigation and the case was being investigated under Section 430 of the Penal Code for cheating.

“The suspect allegedly used the modus operandi of investing the money for a frozen food company in Pengkalan Chepa. But the investigation found it was not true,” he said. — Bernama