News Formal

Police Bust Call Centre Offering Bogus Investment Schemes, Arrest 40 People

  • 📰 staronline
  • ⏱ Reading Time:
  • 18 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 75%

Crime News

Police,Call Centre,Investment Scheme

Police in Johor Baru have arrested 40 people and seized several items in a raid on a call centre that was promoting a bogus investment scheme called 'xtrade' on social media platforms. The syndicate promised investment returns of between 50% and 100% with a minimum investment of US$100.

JOHOR BARU: Police have busted a call centre offering bogus investment schemes and arrested 40 people, says Johor police chief Comm M. Kumar.

Comm Kumar added that initial investigations found the syndicate's modus operandi was to promote and advertise its bogus investment scheme"xtrade" on various social media platforms. “Those interested will call the numbers listed in the advertisement,” he said, adding that the syndicate uses a local registered company as a front.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Police bust online gambling app syndicate posing as IT company in Subang JayaSUBANG JAYA, March 21 — Police detained 84 individuals, including a Thai national, on suspicion of developing online gambling apps for foreign markets, during a raid at a...
Source: malaymail - 🏆 1. / 86 Read more »

Police bust online gambling app syndicate posing as I.T companySUBANG JAYA: Police detained 84 individuals, including a Thai national, on suspicion of developing online gambling apps for foreign markets, during a ...
Source: theSundaily - 🏆 25. / 51 Read more »