: Police arrested 12 individuals for their alleged involvement in a fraud syndicate that posed as Goldman Sachs investment firm, involving losses exceeding RM11 million, on Monday.
“The suspects acted as company directors and owners of businesses used as mole accounts in the investment fraud activities. “This investment scheme offers high returns ranging from 15 to 200 per cent per month. Profits are guaranteed through guidance and assistance from market analysis experts or ‘Cikgu Trader’,” he said.
“Victims only realised they had been deceived when they failed to withdraw the profits they had earned,” he said.Ramli said police also seized eight units of mobile phones, one pouch bag, two copies of the Companies Commission of Malaysia certificate, a copy of the business registration form, and five copies of Form A .