KUALA LUMPUR, March 2 — Federal police have initiated an investigation into a fraudulent investment scheme after receiving reports of more than RM6.7 million in losses from investors.
Bukit Aman police secretary Datuk Noorsiah Mohd Saaduddin said police have received a total of 42 reports regarding the fraudulent investment scheme known as “Sencapital”.
She said that based on the reports, the total losses from the scheme amounted to RM6,718,395.70.
“The police, through the commercial crime investigation department (CCID), are investigating the ‘Sencapital’ investment scheme that has been active nationwide,” she said in a statement today.
Noorsiah said the scheme has been active since late last year where it offered investment based on stock purchases.
“Investors who are keen will be included in a collection of Whatsapp applications called JP Morgan Business School.
“Interested investors are then asked to register and purchase shares offered through the company's website,” she said, adding that all payments are then made through money transfers to several different company accounts.
Noorsiah said the company’s website had been found to be inactive since February and the investors were unable to withdraw their money.
She said the case was being investigated under Section 420 of the Penal Code for cheating.
“The police advise the public to be vigilant and conduct detailed checks before signing up for any investment or savings schemes that promise large returns,” added Noorsiah.
