Police to investigate fake investment scheme that cost investors RM2 m

KUALA LUMPUR: Police have assured that they will investigate reports made against a fake investment scheme in Sandakan, Sabah, which has swindled almost RM2 million from 61 people in the state.
Sandakan MP Stephen Wong together with Segambut MP Lim Lip Eng and Kampung Tunku assemblyman Lau Weng San, had a private meeting with newly installed director of Commercial Crimes Investigation Department (JSJK) Datuk Amar Singh Ishar Singh at his office today.
The scheme, known as the Plus 500 investment scheme has been taking money from people by promising lucrative interest rates on their investment.
"We went to have a meeting with the director (Amar Singh) today to explain to him the facts of the case, together with that, we also have given him a list of the 61 names and the amount of money they had invested in the fake scheme," said the Sandakan MP at a press conference after the meeting.
Wong said that the meeting with Amar Singh was positive and he was assured that the police will investigate it in accordance with the law.
"We are also looking to retrieve all the money in full back to the investors from the company," he said.
Wong explained the modus operandi for the scheme was that whoever was tricked into investing their money was told to bank in a certain amount to a man who promised the investors that they would get a return on investment that was very profitable.
The perpetrator had also given a legal letter from a law firm to trick investors into thinking that this was a legitimate scheme.
"Until today not one of the investors have received their money and the man cannot be contacted since all the investments were made. All of them had also made police reports in Sandakan," Wong said.