: Police have arrested six local individuals suspected of being involved in the “Kakaue” investment fraud syndicate, which has resulted in losses amounting to RM18 million through several raids in Sarawak, Sabah, Penang, Kedah, Melaka, and Johor.
“Based on investigations, the syndicate advertised investment offers through Facebook, using the name Kakaue, which falsely claimed to operate as a cryptocurrency investment broker. He explained that victims could see their investments generating profits on the downloaded application, however, when they attempted to withdraw it, the company would provide excuses.
During the raid on Oct 9, six men and three local women aged between 17 and 31 were arrested at a condominium suspected of being used as a call centre for the syndicate’s activities, he said.
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