In a major crackdown, authorities have apprehended twelve individuals across seven states for their alleged involvement in an investment fraud scheme linked to Goldman Sachs, resulting in losses exceeding RM11 million. The arrests, conducted under Op Nuri 7/24, mark a significant milestone in the fight against financial crime.
Speaking at the JSJK Director's Special Media Conference at Menara KPJ, Bukit Aman Commercial Crime Investigation Department (JSJK) Director Datuk Seri Ramli Mohamed Yoosuf revealed that the suspects, aged between 21 to 45, operated as company directors and business owners, utilizing these roles as fronts for their fraudulent activities.
According to Ramli, investigations uncovered that the syndicate had been operating online since February, leveraging the esteemed reputation of Goldman Sachs to deceive unsuspecting victims. The group's modus operandi involved using social media platforms like Facebook and WhatsApp to lure victims with promises of high returns ranging from 15 to 200 percent per month.
To participate in the investment scheme, victims were instructed to download specific mobile applications and transfer funds to designated accounts associated with the syndicate. However, the promised profits failed to materialize, leaving victims deceived and defrauded.
During the operation, authorities seized crucial evidence, including mobile phones, documentation related to business entities, and forms used in the fraudulent scheme. To date, 29 investigation papers have been initiated, with 19 bank accounts identified as part of the illicit activities.
Ramli emphasized that all suspects have been remanded for three days as investigations under Section 420 of the Penal Code continue. The concerted efforts of law enforcement agencies underscore their commitment to combatting financial fraud and safeguarding the interests of the public.
The arrests serve as a warning to fraudsters and underscore the importance of due diligence when engaging in investment opportunities. As authorities continue to crack down on financial crime, vigilance and awareness remain crucial in protecting individuals from falling victim to similar scams in the future.
Kamran is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav. Log in to creator.newswav.com and become a Newswav Creator now!
The User Content (as defined on Newswav Terms of Use) above including the views expressed and media (pictures, videos, citations etc) were submitted & posted by the author. Newswav is solely an aggregation platform that hosts the User Content. If you have any questions about the content, copyright or other issues of the work, please contact Newswav.
