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Police bust get rich quick investment scheme in which victims cheated of over RM2 million

SHAH ALAM: The Selangor police contingent busted a get rich quick investment scheme known as 'Bookcoins' masterminded by two businessmen with the title of Datuk Seri and Datuk earlier this month.
The duo, who are in their 40s and are believed to be have scammed their victims of RM2.1 million, were arrested in two separate operations conducted in Desa Park City, Kuala Lumpur, on Aug 3 at 11am.
Selangor police chief Datuk Mazlan Mansor said his men from the Sungai Buloh commercial crime investigation department moved in on the suspects following four police reports lodged against them.
"Our investigations showed that the syndicate has been active since mid 2016. They have promised their investors a return of one per cent a day. They operate online and offer their victims three packages which are 'Gold', 'Silver', and 'Bronze' which involves investments from RM100,000 up to RM500,000.
"However, after a certain period, their victims failed to get their returns," he said in a press conference at the state contingent headquarters here yesterday.
Mazlan added that in the two separates house raids, RM1.06 million cash including foreign currencies were seized.
"Apart from a Porsche Macan and a Toyota Vellfire, we also confiscated 35 handbags and 17 luxury watches, as well as 26 cheque books under several accounts. These are all worth RM1.05 million," he said.
The duo, who are believed to have cheated about 200 other victims from all over Klang Valley, have been remanded to be investigated under Section 420 of the Penal Code for cheating.

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