Police arrest 101 individuals allegedly involved in GCM Asia investment fraud

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SHAH ALAM, Aug 10 — The police arrested 101 individuals including 36 women believed to be carrying out fraudulent online investment activities at two premises in USJ 1, Subang...

SHAH ALAM, Aug 10 — 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.

"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.

"In fact, the GSM Asia investment scheme has also been blacklisted by Bank Negara Malaysia for the past two years. The losses suffered by the victims has so far been estimated to be about RM2 million," he said.

 

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