Police bust TikTok investment fraud syndicate, arrest eight
Published on: Friday, May 03, 2024
By: Bernama
For illustrative purposes only. - depositphotos
KUALA LUMPUR: Police have busted an investment fraud syndicate operating on TikTok and detained eight individuals, including two women, during separates raids in Petaling Jaya, Selangor, on April 25.
Bukit Aman Commercial Crime Investigation Department (CCID) director Datuk Seri Ramli Mohamed Yoosuf said those arrested were between 21 and 43 years old.
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He added that seven laptops, 11 mobile phones, a sum of counterfeit US dollars and 10 gold bar replicas were seized.
"The syndicate is suspected of trageting local citizens for its online fraudulent investment activities.
"The premises were used as a customer service centre, advertising and investment promotion centre," he said during the CCID director's special media conference at Menara KPJ, here today.
He said, the syndicate promoted stock market transactions allegedly operating in Hong Kong and interested investors were added to a Telegram group.
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"We believe they have been active since August last year and the case is being investigated under Section 420 of the Penal Code," he said.
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