Thaiveegan (second right) showing some of the confiscated items during a press conference. — Bernama photo
KUALA LUMPUR: For the past 19 months, more than 500,000 people became victims of scams involving illegal investments in the country.
Bukit Aman Commercial Crimes Investigation Department (JSJK) deputy, Datuk A Thaiveegan said the victims were conned by syndicates which offered high returns.
“We have often advised the public to be cautious with any kind of investment, to check with Bank Negara and the Companies Commission of Malaysia (SSM) first before putting in any money,” he told a press conference here yesterday.
Thaiveegan said the latest arrests last Tuesday were of three people, including two members of a family, believed to be involved in a scam involving foreign exchange totalling RM39.60 million in Pahang and Kelantan.
He said police had received 114 reports about this scam and had opened 20 investigation papers.
In a separate development, Thaiveegan said police busted four money-lending or ‘Ah Long’ (loan shark) syndicates after arresting 29 individuals including two women in four states in an operations conducted from July 30 until last Thursday.
He said the arrests were made in Kuala Lumpur, Selangor, Kedah and Johor, and also included the mastermind and runners of the illegal money-lending syndicates.
Thaiveegan said the members of the syndicates were between the ages of 18 and 48 years, and the arrests were made after police received about 30 reports involving loans amounting to RM575,950.
He said the four syndicates were believed to be active in several states including Johor, Melaka and Negeri Sembilan, and used forceful methods of collection such as throwing paint and making threats when the victims were late in making payments.
Among the items seized in the raids were 68 handphones of various makes, 51 ATM cards, laptops, bank books, 153 cheques and 13 cars, he added.
Thaiveegan said from last year until July this year, 2,273 cases involving Ah Long were reported throughout the country, with total loan amount of RM68.8 million. — Bernama