KUALA LUMPUR: The police arrested three directors of a company on suspicion of being involved in the ‘Giganation GIB’ investment fraud syndicate.
Without revealing where the suspects were arrested, Bukit Aman Commercial Crime Investigation Department (JSJK) director Datuk Seri Ramli Mohamed Yoosuf said all the suspects aged between 49 and 57 were arrested on Thursday (Dec 7).
He said preliminary investigations found that the company began operations in 2017 and carried out businesses related to property development, land development, agricultural land development, asset development and liability management.
According to him, promotions for the said investment scheme were made through the company’s Facebook page and its appointed agents by offering two packages namely ‘GIB Sub Let 2020’ (maturity period of two years and two months) and ‘GIB Sub Let Flipping 2020’ (maturity period of one year).
“The modus operandi of the syndicate is that investors’ money will be invested in real estate and investors are promised a profit of RM540 every 45 days (for the first package) and every 60 days (for the second package).
“Most investors receive the dividends for the first one or two months but after that, it is no longer paid,“ he said in a special press conference here, today.
Ramli said all the suspects were remanded for three days until today and would continue to be remanded until Dec 12 under Section 420 of the Penal Code.
He said since March 2021, JSJK had received 57 police reports across the country regarding fraudulent investment activities allegedly linked to Syarikat Giganation GIB Berhad.
“So far, the losses reported have been RM3,992,486 in total,“ he said.–Bernama
