KUALA LUMPUR: Police have received 51 reports against a cross-border foreign exchange investment scam that caused almost RM12 million in losses.
Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said the scheme, which was reported in the media on Dec 9, defrauded RM11,990,768 from more than 300 investors.
He said investigations indicated that the scam was orchestrated by individuals from Malaysia and Indonesia, using a company registered in Indonesia.
"The company, PT Sentratama Investor Future, acted as a broker managing financial transactions between investors and the organisation.
"Two other companies were identified as promoting the fraudulent investment scheme through face-to-face engagements.
"To date, two suspects, an Indonesian and a Malaysian, have been apprehended on Sept 9 and Oct 25, respectively," he said in a statement.
He said the case was being investigated under the Penal Code for cheating.
Ramli advised the public to remain vigilant and thoroughly check any investment scheme, especially those promising unusually high returns.
He also encouraged individuals to refer to official sources, such as CCID's Semak Mule portal, Bank Negara Malaysia's Alert List, and the Securities Commission, to verify any investment.