KUALA LUMPUR: A savings scheme scam responsible for RM4.4mil in losses has been busted with the arrest of eight people.
The suspects – four men and two women – were detained following raids in Kuala Lumpur, Terengganu, Perak and Negri Sembilan on Jan 27.
Police secretary Deputy Comm Datuk Noorsiah Mohd Saaduddin said 116 police reports had been lodged against the perpetrators so far.
“The Bukit Aman Commercial Crime Investigation Department is actively investigating the saving scheme (Sapiza Saving Extra), which had allegedly been duping victims nationwide.
“Initial investigations revealed that the scheme has existed since 2015, offering savings based on the ‘kutu’ system,” she said in a statement yesterday, referring to a monetary funding scheme for savings and quick cash.
However, DCP Noorsiah said the scheme started offering investment plans in 2021 of between RM250 and RM20,000 for a period of two to five months.
“The new plans even promised profits of 15% to 40% of the savings invested.
“Since October last year, the scheme’s handlers have failed to settle profit payments,” she added.
DCP Noorsiah said the police detained the suspects aged between 31 and 37 following several raids and seized their assets which included a luxury vehicle, ATM cards, mobile phones and documents.