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Friday, 4 August 2017

Police have arrested three men including a “Datuk” who are linked to a foreign exchange scam amounting RM39.6 million.


Datuk among three people arrested for forex scam involving RM39.6 million

FAISAL ASYRAF
New Straits TimesAugust 3, 2017






KUALA LUMPUR: Police have arrested three men including a “Datuk” who are linked to a foreign exchange scam involving funds amounting to RM39.6 million.

Federal Commercial Crime Investigation Department director Datuk Acryl Sani Abdullah Sani said the trio including its founder, who carried the title “Datuk”, were arrested in operations over the past three days.

The three were picked up in Maran, Pahang and Kota Baru in Kelantan.

Acryl said police had received 114 reports on the company MGC Capital Sdn Bhd between February last year and July this year.

He said police had opened 20 investigation papers on the scam.

"Preliminary investigations show that the men have offered a 10 per cent weekly profit for four years to the investors.

"Those interested would transfer their investment fees to a Maybank account under the company MGC Capital Sdn Bhd and the registration would be done via website www.mgcforex.com," Acryl said.

It is learnt that the company has been in operation since June 2014 and has failed to pay profits to investors since August 2015.

Meanwhile, Inspector-General of Police Tan Sri Khalid Abu Bakar, via his tweet handle @KBAB51, congratulated the department for the arrests.

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