29 held in online investment fraud HQ raid

KUALA LUMPUR - An online investment scam syndicate which carried out its operation in a upmarket office with a monthly rent of RM17,400 was busted when police arrested 29 people in a raid in Jalan Pudu, Bukit Bintang here yesterday.

Dang Wangi police chief ACP Noor Dellhan Yahaya said those detained in the operation at 3.40 pm were aged between 23 and 53 including six foreigners.

Police also seized several mobile phones and laptops as well as other electronic equipment.

"Investigation found the syndicate was targeting victims abroad and has been carrying out its operation for about two months.

"Police also found all individuals have roles among others as customer service officers offering non-existent investment via live chatting,” he said in a statement today.

Noor Dellhan said investigations also found employees were paid between RM2,000 to RM10,000 a month not including commission based on orders given.

He said the investigation found that the two arrested individuals who acted as managers had criminal records. All of them were remanded for three days until Sept 11 for investigation under Section 120(B)/420 of the Penal Code. - BERNAMA