Four investment fraud syndicates busted, 21 nabbed in Feb, March

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KUALA LUMPUR: The police have busted four investment fraud syndicates using social media involving bitcoin following the arrest of 21 people in a seri...

: The police have busted four investment fraud syndicates using social media involving bitcoin following the arrest of 21 people in a series of operations in five states in February and early March.

Bukit Aman Commercial Crime Investigation Department director Datuk Zainuddin Yaacob in a statement today said the detainees comprised 18 men and three women, all locals. Zainuddin said the modus operandi used by the syndicate members was to start sending investment advertisements through social media platforms such as Facebook and WhatsApp and the victims would start following the syndicate’s instructions to join the investment package promising huge returns in a short time with low capital investment.

 

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