Online investment scam: 14 'Chao Jin Dang' group members nabbed

Ten local men and two female Chinese nationals, aged 19 to 27, were arrested around Klang Valley on Wednesday.

Bukit Aman Commercial Crime Investigation Department director Datuk Zainuddin Yaacob said the syndicate operated from residence converted into a customer service centre since early February, targeting victims from China.

He said the syndicate advertised on Facebook that it was looking for workers and offered salaries of between RM2,500 to RM3,000 and is providing several condominium units in Kuala Lumpur as accommodation.

“The syndicate would offer victims access to invest in the provided websites which offered high returns.

“Police also seized 61 mobile phones, 13 laptops, a computer and a router believed used for illegal online investment activities,” he said in a statement today.

Zainuddin said the suspects have been remanded for a day while the foreign suspects were remanded under the Immigration Act 1959/1963, adding that the case is being investigated under Sections 420 and 120(b) of the Penal Code, the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and Section 6(1) of the Immigration Act.

He also advised Malaysians to be wary of online investments that promise high returns and to obtain information from official sources before making any investment.