Cops smash forex scam ring that conned 629 victims of RM30mil

Published on 11/22/21 / In News & Politics

Police have smashed a forex investment scam ring led by a bogus "Datuk" that conned 629 victims out of more than RM30mil.<br /><br />Federal Commercial Crime Investigation Department (CCID) deputy director Comm Datuk Mohd Kamarudin Md Din said that on Friday, adding that police conducted a series of raids around the Klang Valley on Tuesday (Jan 5) and arrested 22 Malaysians and two foreigners.<br /><br />Police also seized 22 mobile phones, one tablet device, 10 laptops, one computer, one hard disc, 14 books on forex investments, 1,000 counterfeit US$100 bills, 10 real US$100 bills, 15 ATM cards, nine luxury watches, seven gold bars believed to be fake, 11 branded bags, jewellery, and RM2,230 cash, as well as a Ferrari F430, a McLaren exotic car, three Mercedes Benz and a Toyota Vellfire.<br /><br />Comm Mohd Kamarudin said investigations revealed the syndicate was active for over two years and would dupe victims by selling software to supposedly analyse the forex market situation.<br /><br />Read more at<br /><br />WATCH MORE:<br />SUBSCRIBE:<br />LIKE:

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