Investment scam leads to RM14Mil in losses

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Investment Scam,Losses,Ramli Mohamed Yoosuf

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Bukit Aman, Commercial Crime Investigation Department director Comm Datuk Seri Ramli Mohamed Yoosuf, said in a statement on Friday that 35 investigation papers had been opened concerning the scam since July.He said victims of the scam ranged from housewives to government servants and lecturers.

"Investigation showed that an investment company named Pantheon Ventures has existed in the United Kingdom since 1982. However, that company had no connections to the scam that was being promoted on social media," he said. He explained that the scammers told victims to transfer funds to several bank accounts. They were then instructed to download either the 'Nexus Equity' or 'Neeq' application to monitor their investments. The police believe that the accounts were mule accounts.

Comm Ramli said the scammers would then offer excuses when victims try to withdraw their supposed profits. "This scam supposedly is based on the markets of selected countries such as Malaysia, Taiwan and China, with profits ranging from 8% to 23% weekly," he said.Court dismisses Rosmah's bid to stay hearing of suit by Lebanon-based jewellerDr Wee emphasises importance of embracing cultural diversity

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