Police Identify Prime Suspect Of Forex Investment Fraud - Bukit Aman

KUALA LUMPUR, March 5 (Bernama) -- Police have identified the prime suspect behind a foreign exchange (forex) investment fraud involving a company, which has resulted in losses exceeding RM24 million.

Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said that authorities are finalising the investigation, and actively tracking down the prime suspect.

Dismissing claims that the case was not being investigated, he stressed that since the probe began last year, five individuals, in their 30s, suspected of being mule account holders for the fraudulent investment scheme, have been arrested - both last year and earlier this year.

“A total of 80 reports have been received, involving losses amounting to RM24,813,086.47, and the investigation is nearing completion," he said at a press conference, today.

He added that the case is being investigated under Section 420 of the Penal Code, with findings indicating that the scheme, launched around 2019, promised investors a seven per cent monthly return. Interested participants were required to download a designated investment app.

“The issue arose when the company shifted the investments to cryptocurrency without the investors’ consent. Investors could only view their purported profits through the app, but were unable to withdraw their funds,” he said.

In a separate case, Ramli said that police are tracking down a local man, Lim Voi Heng, suspected of cheating a businessman in a Lamborghini Aventador sale, five years ago.

He added that the suspect had allegedly offered to sell the luxury car to a 34-year-old man for RM2.4 million in June 2020. The complainant reportedly met with the suspect several times, and even test-drove the vehicle, at a motoring company in Puchong, Selangor.

“The complainant was also shown a customs import form as proof that the car had been imported into Malaysia. Beginning June 15, 2020, he made 18 payments, totalling RM2.4 million, to a company account specified by the suspect,” he said.

In January 2022, the businessman received several photos of a car seizure notice, after which the suspect assured him that he would resolve the issue, complete the registration, and transfer ownership of the car. However, to date, the complainant has neither received the vehicle nor been able to contact the suspect, who has since disappeared.

Ramli said the suspect’s last known address was No. 703, Pangsapuri Sri Indah, Jalan Sg Besi Indah 2, Taman Sungai Besi, Seri Kembangan, Selangor. He urged members of the public with any information about the suspect to contact Insp Ruzanna Khairion at 010-442 5916.

-- BERNAMA