In the first case, police conducted several raids in Johor, Melaka, Negri Sembilan and Kuala Lumpur on Sunday , in connection with Aliexchange cryptocurrency investment scam on Monday .
Among the items seized were 11 mobile phones, 20 ATM cards, five luxury vehicles and RM109,594 in cash."Each investor is given access to see their so-called investment via the AliExhange application."They also used Europeans as speakers at seminars organised by them to make it seem that their investment is legitimate," Comm Zainuddin said."One AliCoin is priced at RM4.70, and a minimum investment is priced at 10,000 AliCoin or RM47,000.
In a separate case, Comm Zainuddin said a man, who is known as"Datuk Nadim" and three women were detained in connection with the Goldmine International investment scam."We received nine police reports on the scheme which resulted in RM930,920 in losses.