KUALA LUMPUR: They promised traders of their cryptocurrency scheme returns of as much as 15% and even fooled the victims by partaking international “audio system” at their seminars in a bid to make them seem like authentic occasions.
However on Monday, the mastermind and eight of the syndicate members, together with three ladies, have been arrested in a sequence of police raids in Johor, Melaka, Negri Sembilan and Kuala Lumpur.
“We acquired 27 police reviews on the funding scheme that resulted in RM4.7mil in losses.
“The syndicate was in operation from March to October final yr, ” Bukit Aman Business Crime Investigations Division (CCID) director Comm Datuk Zainuddin Yaacob advised a press convention on the Bukit Aman CCID headquarters yesterday.
The scheme, he added, used the cryptocurrency platform “AliCoin” and gave false promise of 5% to fifteen% returns from investments.
“Every investor was given entry to see their so-called funding by way of an software.
“The syndicate additionally employed European people as audio system at seminars it organised to make them appear authentic, ” Comm Zainuddin stated.
The victims have been required to purchase the corporate’s digital forex AliCoin. Every AliCoin price RM4.70 and the minimal funding was 10,000 AliCoins or RM47,000, he revealed.
“The victims solely realised that they’d been duped when they didn’t obtain the promised returns and couldn’t entry the corporate’s software, ” he stated.
He added that 11 cellphones, 20 ATM playing cards, 5 luxurious automobiles and RM109,594 money have been among the many gadgets seized from the suspects.
Comm Zainuddin suggested the general public to not fall for such “get wealthy fast” schemes.
“No funding would provide large returns in such a short while.
“In Malaysia, solely three corporations are allowed by the Securities Fee to deal in bitcoin, ” he stated.
In one other case, the police stated they’d arrested one “Datuk Nadim” and three ladies who have been suspected to be related to the Goldmine Worldwide funding scheme.
They have been nabbed in raids in Selangor, Kuala Lumpur and Kedah on Thursday.
“The syndicate ran a gold funding scheme that provided a number of packages to entice prospects.
“We acquired 9 police reviews on the scheme involving RM930,920 in losses, ” Comm Zainuddin stated, including that the traders have been anticipating 10% and 13% in returns.
The syndicate, he stated, had been lively from September final yr till November this yr.
Comm Zainuddin suggested the general public to make use of official on-line platforms such because the SemakMule or web sites belonging to Financial institution Negara Malaysia and Securities Fee to test on the legitimacy of corporations or funding schemes.