Cops: RM17.5mil lost to 'Planetrade' investment scam, over 90 reports lodged

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KUALA LUMPUR: A total of 92 police reports have been lodged against the 'Planetrade' investment scheme, which incurred about RM17.5mil in losses since two years ago.

KUALA LUMPUR: A total of 92 police reports have been lodged against the"Planetrade" investment scheme, which incurred about RM17.5mil in losses since two years ago.

"Of those arrested, the main suspect, who is the scheme's mastermind, has been charged under Section 420 of the Penal Code and Section 137 of the Financial Services Act 2013. Various assets and funds belonging to the company were seized including RM700,533 in 27 bank accounts, six vehicles worth a total RM1.1mil and 11 million stocks, DCP Noorsiah said.

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