220 reports of Zuttelo's investment fraud scheme, losses over RM84m
08-12- 2022
KUALA LUMPUR : The Royal Malaysian Police (PDRM) received 220 reports regarding the Zuttelo fraud scheme involving a total loss of RM84,579,831.76 since last August.
Malaysian Police Secretary Datuk Noorsiah Mohd Saaduddin said his side through the Commercial Crime Investigation Department (JSJK) was investigating the syndicate which was found to be actively carrying out fraudulent activities throughout the country for the past two years.
"Based on the investigation, this investment activity started active since 2020 until the company's website was closed around August this year.
"This investment scheme offers nine investment packages with investment amounts ranging from USD630 to USD12,700 with each investor being promised a minimum return of 16.5 percent per month," he said in a statement today.
He said interested investors should register through the www.8liga.net application and be given the option of investing in cash or cryptocurrency.
Noorsiah said the case was investigated in accordance with Section 420 of the Penal Code and the PDRM reminded the public to always be vigilant and carry out more detailed checks from official sources such as Semak Mule, Bank Negara Malaysia's alert list and the Malaysian Securities Commission before making a decision to participate in any investment scheme. .
Previously, the Secretary-General of the Malaysian International Humanitarian Organization Datuk Hishamuddin Hashim claimed that the investment fraud syndicate had about 10,000 victims with a loss of about RM3 billion in the last two years
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