25-05-2025
Police hunt elderly woman behind investment scam
SUNGAI PETANI: Police are searching for a 60-year-old woman to assist in investigations into an alleged investment scam that has resulted in losses exceeding RM600,000 since 2017.
Kuala Muda district police chief Assistant Commissioner Hanyan Ramlan said police had received seven reports from individuals claiming they were duped into investing through the woman.
"The victims were promised returns of between five and seven per cent on their capital.
"Losses linked to the scheme have reached RM604,000 so far, based on reports from victims who believed they were participating in a legitimate investment," he said during a press conference today.
Initial investigations revealed that the so-called investment scheme never existed.
"Unsatisfied with the lack of returns, the victims lodged police reports.
"We are now working to trace the woman, who is believed to be connected to the case.
"We urge anyone with information on her whereabouts to come forward and assist in the investigation," he said.
It is understood that the victims had repeatedly attempted to recover their money from the woman but were met with constant delays.
The case is being investigated under Section 420 of the Penal Code, which carries a maximum jail term of 10 years, whipping, and a fine upon conviction.
In a separate development, Hanyan announced the formation of a special unit under the Kuala Muda district police headquarters known as the 'All Black Militant Jihad Against Drugs' team.
He said the 25-member squad, comprising officers and personnel from various units, would operate in public areas and shopping complexes to gather intelligence on drug-related activities.
"The public may channel any information to this team, and swift action will be taken," he said.
Hanyan said the special squad aims to tackle drug activities at their root across the Kuala Muda district.
