Seven nabbed, virtually RM1m in money and belongings seized

KUALA LUMPUR: Seven individuals together with a Taiwanese have been arrested at a industrial centre in Jelutong, Penang, for alleged involvement in pyramid scheme actions.

Home Commerce and Shopper Affairs Ministry (KPDNHEP) enforcement director-general Azman Adam mentioned 4 premises occupied by the suspects in Penang and Kedah had been additionally raided through the ‘Op Reward’ performed on Wednesday.

He mentioned preliminary investigations confirmed that the corporate concerned had been selling the pyramid scheme by way of on-line functions and sale of sure packages to the general public for the previous few years.

“The raiding celebration seized numerous paperwork, laptop computer computer systems and handphones to facilitate investigations.

“9 luxurious automobiles and several other branded purses belonging to the suspects had been confiscated, 38 accounts in seven banks had been frozen and an amount of money seized, all value RM967,720.29,” he mentioned in an announcement yesterday.

The operation was collectively performed by the ministry’s enforcement division particular activity drive, Nationwide Anti-Monetary Crime Centre (NFCC), Financial institution Negara Malaysia, police and Cyber Safety Malaysia.

Azman mentioned the corporate was suspected to have performed the pyramid scheme actions in Penang, Kedah, Terengganu and Sarawak, aside from operating different enterprise actions.

The case is being investigated underneath Subsection 4 (1) of the Direct Promoting and Anti-Pyramid Scheme Act (AJLSAP 1993) for conducting direct promoting with no licence and Part 27B of AJLSAP 1993 for selling the pyramid scheme.

The suspects are additionally being investigated underneath Part 4 of the Anti-Cash Laundering, Anti-Terrorism Financing and Proceeds of Illegal Actions Act (AMLATFPUAA) 2001 for alleged involvement in cash laundering. – Bernama

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