Kuala Lumpur (VNA) - Malaysian police have busted the Planetrade investment fraud scheme with the arrest of three men and six women, including a director of the company who operated the scheme.
Royal Malaysia Police secretary Datuk Noorsiah Mohd Saaduddin was quoted by local media as saying that the mastermind of the scheme was charged under Section 420 of the Penal Code and Section 137(1) of the Financial Services Act 2013, while the director of the company was charged under Section 109, read together with Section 420 of the Penal Code.
Some of the suspects, who were investors, were victims of the scheme, who had acted as authorised introducers, meaning they received a commission for bringing in an investor, she said.
She said that since January 2021 to date, the Commercial Crime Investigation Department of Malaysia had received 92 police reports related to the investment fraud scheme involving losses of 17.5 million RM (nearly 4 million USD).
Noorsiah said the police had also frozen assets including 27 bank accounts with a total value of 700 million RM (more than 159 million USD), seized six vehicles estimated to be worth over 1.1 million RM, and 11 million shares in four related companies./.
Royal Malaysia Police secretary Datuk Noorsiah Mohd Saaduddin was quoted by local media as saying that the mastermind of the scheme was charged under Section 420 of the Penal Code and Section 137(1) of the Financial Services Act 2013, while the director of the company was charged under Section 109, read together with Section 420 of the Penal Code.
Some of the suspects, who were investors, were victims of the scheme, who had acted as authorised introducers, meaning they received a commission for bringing in an investor, she said.
She said that since January 2021 to date, the Commercial Crime Investigation Department of Malaysia had received 92 police reports related to the investment fraud scheme involving losses of 17.5 million RM (nearly 4 million USD).
Noorsiah said the police had also frozen assets including 27 bank accounts with a total value of 700 million RM (more than 159 million USD), seized six vehicles estimated to be worth over 1.1 million RM, and 11 million shares in four related companies./.
VNA
