KUALA LUMPUR: Police arrested a 60-year-old woman believed to be the main suspect in an investment scam known as “Investment HSBC Bank” on May 25.
Bukit Aman secretary Noorsiah Saaduddin said the police also received two reports regarding the case.
“Based on our investigations, the investment scheme began early this year and offered 30% to 70% profits from the capital invested.
“The scheme also offered stock investments that promised up to 100% returns within 72 hours,” she said in a statement today.
However, she said after the victims had paid up for the investment scheme in cash, they were not paid the promised returns.
The case is being investigated under Section 420 of the Penal Code for cheating and the suspect has been remanded until tomorrow.
“The suspect was also found to have two previous records related to a diesel sales investment scam.
“Those who may have been victims of this investment scheme are urged to come forward immediately and lodge reports at any police station nearby,” she said.
She advised the public to always be cautious and carry out detailed checks before joining any investment schemes that promised lucrative returns.
She also urged members of the public to get further information from official sources, such as the “semak mule” portal as well as the Bank Negara Malaysia and Securities Commission’s alert lists before joining any investment scheme.