BALIK PULAU: A man believed to be a mule account holder for a syndicate involved in an online Bitcoin investment scam, which resulted in a loss of RM129,970 for the victim, was arrested by the police yesterday.
Southwest district police chief Superintendent Kamarul Rizal Jenal said that the 36-year-old suspect was detained following a report lodged by the 44-year-old victim in Bayan Baru.
"The victim claimed that the syndicate promised a Bitcoin investment with a 200 per cent annual return but received no profits.
"The victim claimed to have conducted several online transactions to various bank accounts, including that of the suspect, between July 11 and Aug 10 this year, totaling RM129,970," he said.
Kamarul Rizal added that the investigation was being carried under Section 420 of the Penal Code for cheating.