: Police arrested nine locals, including a man who used a fake “Datuk Seri” title on suspicion of being involved in a non-existent investment fraud syndicate Planetrade, in separate raids on Monday.said all the suspects, including six women aged between 41 and 62, were nabbed around Kuala Lumpur, Selangor and Penang.
“Other suspects are agents or those actively carrying out the activities of the companies and all of them are remanded for between two to four days starting March 2 to assist in the investigation,“ he said at a press conference at Menara KPJ here today. “Investigations found that the syndicate started operating in January 2021 and offered the purchase of ‘preference shares’ which promised a fixed profit rate of around four to five per cent per month from the capital invested.
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