fbpx
Connect with us

News

Police Seize RM4.6 Million Worth of Cash & Items Involved in Investment Fraud in Kluang House

Published

on

Source: Facebook

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

A businessman with a ‘Datuk’ title was among three individuals who were arrested after they were believed to be involved in an investment fraud. Police seized wads of cash and other items amounting to RM4.6 milion in Taman Sri Kluang on Tuesday (24 November).

According to Johor Police Chief Datuk Ayob Khan Mydin Pitchay, the 40-year-old man was arrested along with two other businessmen at about 9pm. Three raids were carried out in Kuala Lumpur and Johor Bahru, but all arrests and seizures were made at the terrace house in Kluang.

126520337 1755247764652926 1688900044335333090 N

125859886 1755247581319611 2416980109840778609 N 127243749 1755247627986273 2864017600835507211 N

He said that initial investigations found that the suspects had been deceiving the public to invest in foreign exchange and cryptocurrency transactions by promising lucrative returns within a short period of time, reported Harian Metro.

“The syndicate is believed to have been active for the past two to three years and besides targeting Malaysians, the investor also targets foreigners from China, Singapore, Brunei and several other countries,” he said.

“A police team from the Johor Contingent Police Headquarters (IPK) Task Force raided and inspected a two-storey terrace house and found cash and various items including 10 luxury watches worth RM250,000, 16 credit and debit cards from various banks, 22 pieces of gold worth RM45,000 and six mobile phones of various brands.”

“Also seized were two Mercedes Benz and Range Rover brand vehicles, cash amounting to RM2.17 million and foreign banknotes estimated at RM1.4 million.”

126334108 1755247891319580 3938355311589798009 N 127156321 1755247724652930 3840690539749020359 N 127528913 1755247694652933 8791106284993568946 N

He added that all suspects aged 27 to 40 were remanded for three days until 27 November while the case is being investigated under Section 420 of the Penal Code. Upon conviction, the accused can be sentenced to imprisonment for a period of not less than one year and not more than ten years. The punishment also includes caning and a fine.

Ayob Khan Mydin Pitchay added that the police took action after receiving information from the public. He explained further that many more victims have been deceived by this syndicate and urged any other individuals affected by this scam to come forward to make a report to assist in investigations.

“The investigation is still in the early stages. We need time to check with Bank Negara Malaysia (BNM) and so on,” he said.

“Johor police advise the public not to be easily deceived by investment schemes that promise lucrative profits in a short time.”

 

Also read: 36yo M’sian Man Arrested For Trying To Smuggle RM1.93 Million Worth Of Cigarettes Into The Country

Ascsa

Source: Facebook
Source: Facebook
Source: Facebook
Source: Facebook
Source: Facebook
Source: Facebook


Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Pjimage 2021 06 22T143014 Pjimage 2021 06 22T143014
News29 mins ago

“Vaccine or jail” Philippines’ President Threatens To Imprison Those Who Refuse Covid-19 Vaccine

Imagine how the tables would turn if this was implemented in Malaysia. With the pandemic in its current state, you...

My Post 2021 06 22T122103.862 My Post 2021 06 22T122103.862
News2 hours ago

10 People Fined RM23,500 For Flouting SOPs At Illegal Snooker Centre In Johor

10 individuals, including the supervisor of an entertainment centre, were arrested after being suspected of violating the standard operating procedures...

Lock Lock
News3 hours ago

Emotionally Distraught Man In Seremban Locks Family In House After Losing Job Due To MCO

A man from Seremban locked his family in their house after experiencing emotional stress from losing his job due to...

Elephant Elephant
News4 hours ago

Elephant In Thailand Breaks Down Kitchen Wall & Rummages Around Looking For Food

It was a terrifying moment when a man from Thailand discovered an adult elephant poking its head through his kitchen...

Ambu Ambu
News1 day ago

Motorcyclist Injured After Beating Red Light & Crashing Into Ambulance In Selangor

A 37-year-old motorcyclist crashed into an ambulance after beating a red light in the Hulu Selangor district and suffered injuries...

Pjimage 2021 06 21T125619.745 1 Pjimage 2021 06 21T125619.745 1
News1 day ago

Government Considering Relaxed Rules, Interstate Travel For Fully Vaccinated People

The Hungary vs France match during the weekend was a wake-up call for us. The match took place in Budapest’s...

Ppv Ft Ppv Ft
News2 days ago

Bukit Jalil National Stadium PPV To Open Tomorrow, Focusing On Vaccinating Those Under 40yo

The Bukit Jalil National Stadium vaccination centre (PPV) will begin operations tomorrow (21 June 2021). According to the Minister of...

Picture 1 14 Picture 1 14
News2 days ago

MOE Is Looking To Hire Over 18,000 Teachers With A One-Off Hiring Process Starting 7 July

The Ministry of Education (MOE) is looking to recruit teachers on a ‘one-off’ basis to fill the vacancies throughout the...

Announcement

Latest Videos



TRENDING TODAY