KUALA LUMPUR: Police are urging victims of the Planetrade syndicate to come forward to lodge reports following the 92 reports by people who incurred more than RM17 million in losses in the fraudulent investment scheme.
Federal police secretary Datuk Noorsiah Moh Saaduddin said investigations on the case were continuous even after the arrest and subsequent court charge against its mastermind and others.
“Between January 2021 until today, the police through its Commercial Crime Investigation Department has received 92 reports on the Planetrade investment scheme fraud with losses amounting to RM17,547, 414.50.
“In 2022, nine people comprising local three men and six women involved in the investment scheme were successfully detained.
“The police urges individuals who were victims of the scheme to immediately lodge police reports,” she said in a statement today.
In March 2022, the police detained nine people, including the scheme’s mastermind who had used a fake ‘Datuk Seri’ title for operating the non-existent investment platform.
She said following their arrest, the mastermind was charged under Section 420 of the Penal Code and Section 137(1) of the Financial Services Act 2013.
Another suspect believed to be one of the company’s directors was been charged under Section 109 of the Penal Code, read together with Section 42 of the Code.
Also seized were six luxury vehicles worth RM1,165,800, 27 bank accounts with total value of RM700,533.47 and eleven million share units in four related companies.
Noorsiah said police had also arrested investors and “introducers” of the scheme.
“All suspects who were arrested either managed, help to operate or promotes the syndicate.
“Among suspects arrested were investors or the scheme’s victims who act as the ‘authorised introducer’ which received a commission for each investor brought into the scheme.”
Noorsiah urged the public to always be alert when it comes to investments schemes, and encouraged people to do the necessary background checks before signing up for such activities.
“The public is reminded to carry out detailed check before participating in any investment scheme that promises excessive gains.
“Please get further information on official sources such as the CCID’s ‘Portal Semak Mule’, Bank Negara Malaysia’s alert list as well as the Securities Commission before joining any investment scheme,” she said.
Source: New Straits Times
