KUALA LUMPUR: Police arrested 12 individuals for their alleged involvement in a fraud syndicate that posed as Goldman Sachs investment firm, involving losses exceeding RM11 million, on Monday.
Bukit Aman Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf said the suspects, aged between 21 and 45, were nabbed in Selangor, Johor, Negeri Sembilan, Sarawak, Perak, Kedah and Penang under Op Nuri 7/24.
“The suspects acted as company directors and owners of businesses used as mole accounts in the investment fraud activities.
“Our investigation revealed that this syndicate has been operating online since February, using the name of the world-renowned investment firm Goldman Sachs to deceive victims,” he told a special media briefing at the KPJ Tower here today.
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He said the group’s modus operandi involved using social media platforms such as Facebook and WhatsApp as mediums for marketing and communicating with the victims.
“This investment scheme offers high returns ranging from 15 to 200 per cent per month. Profits are guaranteed through guidance and assistance from market analysis experts or ‘Cikgu Trader’,” he said.
According to Ramli, victims were asked to download the ‘Bam Pro’ and ‘Baly Pro’ applications from App Store and Google Store before being instructed to transfer funds to the mole accounts set up by the syndicate.
“Victims only realised they had been deceived when they failed to withdraw the profits they had earned,” he said.
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Ramli said police also seized eight units of mobile phones, one pouch bag, two copies of the Companies Commission of Malaysia certificate, a copy of the business registration form, and five copies of Form A (registration of business).
He said 29 investigation papers have been opened, and 19 bank accounts involving three companies and 16 businesses have been identified as mule accounts.
“All suspects were remanded for three days until yesterday and the case is being investigated under Section 420 of the Penal Code,” he said.
