Penang police


Jan 2018

Police are determined to crack down on rampant money games syndicates in the state, said Penang police chief Comm Datuk A. Thaiveegan.

“I want to fight against such schemes which cheat the public of their money.

“Therefore, I am calling the victims to step forward and lodge police reports, so we can take the necessary action against such syndicates,” he told reporters at a press conference after visiting the North Seberang Prai district police headquarters here today.

Thaiveegan also warned the public not to get involved in get rich quick schemes, adding that they should understand that the return of investment (ROI) of 30% monthly was merely to attract the public.

“The public should not blindly trust and invest just because of the attractive ROI.

“They should check on the companies, whether they are registered in the country through Bank Negara Malaysia (BNM),” he said.

Commenting on a fraudulent investment scheme where victims were cheated of RM700,000, Thaiveegan said police had identified a 30-year-old man who had fled to Australia and are currently tracking down another two suspects.

He said police believe the syndicate had started the investment scheme in 2017 and had conned investors of more than RM700,000.

“Up to this moment, we have received a total of 10 police reports against this investment scheme” he said.

On Tuesday, it was reported that police had arrested three people in connection with the scheme.

They will be investigated for cheating under Section 420 of the Penal Code.

Thaiveegan said the scheme offered people 30% returns on their investments a month, which never materialised.