Investment Scam: 3 detained

BUKIT MERTAJAM: Police have detained a man and two female suspects in connection with investment fraud cases involving RM700,000.
Penang police chief Datuk A. Thaiveegan said the suspects were detained following several reports which were lodged against them.
"Their modus operandi include promising their investors daily returns of 1% on investments for a total of 30% a month", he said in a statement to the media today.
Thaiveegan also warned that police will go all out against such cheating cases and advised members of the public to be cautious when conducting online transactions and to do a bit of research first.
He also said assets belonging to the suspects would be frozen under Anti Money- laundering laws.
It was learnt that the suspects were picked up in several locations in Bukit Mertajam.
Early today morning all three suspects were remanded for one day to facilitate investigations under Section 420 of the Penal Code, which provides for a jail term of one to 10 years and whipping.