Police arrest 101 individuals allegedly involved in GCM Asia investment fraud

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He said the syndicate, which used the name ‘GCM Asia’, had been operating for more than a year through social media platforms and websites. theSun thesundaily Malaysianews PDRM GCMAsia forex Selangor

Selangor Police chief Datuk Hussein Omar Khan said in the raids conducted at 12.30 pm, all locals aged between 19 and 41 including managers, operations staff, IT department technicians and call centre operators were arrested.: The police arrested 101 individuals including 36 women believed to be carrying out fraudulent online investment activities at two premises in USJ 1, Subang Jaya, on Aug 7.said in the raids conducted at 12.

“It offers investment packages in forex, gold, oil, stocks and others at a minimum amount of USD100. Investors are promised a handsome return of up to 30 per cent profit within a short period of time before realising they have been duped,“ he said in a press conference at the Selangor Police Contingent Headquarters today.

“Preliminary inspection of the confiscated case items found that the GCM Asia investment application and bank account number used by the syndicate were involved in several police reports that had been made by fraud victims in Selangor and other states. Hussein said all suspects have been remanded for three days beginning Aug 8 and that the case was being investigated under Section 420 and Section 120B of the Penal Code.

 

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