SHAH ALAM: Police have uncovered a ring of confidence tricksters and detained four individuals for allegedly operating a non-existent army uniform tender investment scheme.
About RM55 million is believed to have been fleeced from victims.
The ring was allegedly masterminded by a married woman.
Selangor Commercial CID deputy chief Supt Mazelan Paijan said the suspects, including the 30-year-old woman and her husband, were picked up between Monday and Thursday.
He said the couple were nabbed in Bukit Jelutong on Monday, while a 47-year-old “Datuk Wira” and a 30-year-old woman were picked up in Puchong and Kajang on Wednesday and Thursday.
The ”Datuk Wira” and the woman were believed to be “senior figures” in the scam.
According to Mazelan, the scam began in August 2015, using a cosmetics and “jamu” business company in Taman Melawati near here registered by the alleged mastermind.
“The arrests followed a police report by an agent in Kajang who had collected money from 40 victims for the investment in the tender scheme.
“The agent became suspicious when he was not given the profits as promised from the RM1.7 million he had collected and handed over to the ring of confidence tricksters.
“Upon checking with the ministry (defence ministry) concerned, it was found that no such tender had been issued,” he told reporters here today.
Mazelan said the suspects were believed to have swindled more than 1,000 individuals in rural areas in the east coast and Selangor.
“Based on records seized from one of the suspects, total losses incurred by the victims could amount to about RM55 million, but we think many have yet to lodge police reports,” he added.
He said the ring gained the confidence of victims by claiming a company was facing financial constraints in proceeding with a tender and offered profits of between 30% and 50% to interested investors.
Mazelan said a BMW 3 Series and a Mercedes Benz E250 were seized, together with various business documents, cheque books, bank cards, laptops, mobile phones as well as bank transaction receipts from the suspects.
The four suspects have been remanded until Monday to facilitate investigations under Section 420 of the Penal Code for cheating.
Last week, Bernama reported Selangor police detained a couple who were the main suspects behind an investment scam involving losses of RM20 million.
The couple allegedly offered financial consultancy services on investments through advertisements on Facebook, offering high profits of between 50% and 80%. -FMT