KUALA LUMPUR: Police have detected the existence of a fraudulent ‘MIDF Investment’ using Facebook which promises profits within three to six hours.
Bukit Aman’s Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said police investigation found that the fradulent MIDF Investment impersonation offered eight investment packages from as low as RM300 (profit of RM13,999) up to RM5,000 (alleged RM99,999 profit).
“Investment money (lured) is paid through a private bank account believed to be a mule account. This syndicate also uses the logo of Malaysian Industrial Development Finance Berhad (MIDF), a company owned by Malaysia Building Society Berhad (MBSB) to scam victims.
“As of now, 72 police reports have been received from victims of this fraud scheme involving a total loss of more than RM2 million,“ he said in a statement here today.
He said the case was being investigated under Section 420 of the Penal Code (for cheating) and reminded the public to be vigilant and carry out more detailed checks before participating in any investment scheme, notably one that promises too much profit.
Ramli said the use of a private bank account to receive investment money is also a red flag that the investment scheme is dubious.
“For the record, the Securities Commission and Bank Negara Malaysia have listed this MIDF Investment in their respective ‘alert list’,“ he said.
