JOHOR BAHRU: Johor police have detained 40 individuals over alleged involvement with a syndicate offering non-existent investment following a raid on a business premises used as a call centre in this city yesterday.
State police chief CP M. Kumar said that 15 men and 25 women aged 22 to 50 were nabbed in a raid conducted jointly by Bukit Aman and Johor police at 11.10 am.
“The modus operandi of this syndicate is to target victims from abroad. They offer ‘XTrade’ investments across various social media platforms such as Facebook, Instagram and YouTube.
“Customers were promised lucrative returns of between 50 and 100 per cent of the amount invested,” he said in a statement today.
Kumar said the police also seized equipment used by the syndicate including 41 sets of computers, 46 mobile phones, a modem and a router.
“Initial investigations revealed that the syndicate has been operating under the guise of a registered local company to avoid detection by the authorities,” he said.
The case is being investigated under Section 420 of the Penal Code.
