KUALA LUMPUR: Police have uncovered an investment scam known as “Pantheon Ventures” being actively promoted on Facebook and Instagram.
Bukit Aman Commercial Crime Investigation Department director, Datuk Seri Ramli Mohamed Yoosuf, stated that investigations revealed that the scheme falsely claims to offer investments tied to the stock markets of Malaysia, Taiwan, and China.
He said the promised returns range from 8% to 23%, depending on the stock markets in the respective countries, with supposed weekly profits.
“Since July this year, 35 investigation papers have been initiated concerning this scam, with losses amounting to RM14,959,416.76.
“The victims include six retirees, four business owners, a housewife, 19 private sector employees, including a bank officer, and five civil servants, including two lecturers,“ he said in a statement today.
He stated that 22 bank accounts, registered under various companies and businesses, have been identified as being utilised in this fraudulent scheme.
Ramli explained that the scheme operates by adding interested investors to a WhatsApp group named “Pantheon Ventures”, where they receive guidance on the stock markets they are supposedly investing in.
“To start investing, investors are asked to transfer money to several company accounts suspected to be mule accounts. They are also instructed to download the ‘Nexus Equity’ or ‘neeq’ app to monitor their investments,” he said.
The app allows investors to see their investments generating profits, but when they attempt to withdraw their earnings the company makes numerous excuses, he explained.
He clarified that investigations revealed that Pantheon Ventures is a legitimate investment company based in the United Kingdom, established in 1982, but it has no connection whatsoever to the ‘Pantheon Ventures’ scheme being promoted on social media.
He added that the case is being investigated under Section 420 of the Penal Code, and urged any individuals who have fallen victim to the scam to come forward and file a police report.
