KUALA LUMPUR: Police confirmed receiving 67 police reports regarding the i-Serve investment scam with estimated losses amounting to RM 81.6 million.
The Federal Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf said police are still investigating the investment scheme, which is allegedly linked to a director of an airline company who was arrested recently.
"With more reports being received, the case is still being investigated under Section 420 of the Penal Code (cheating and dishonestly inducing delivery of property).
"We urge any individuals who have fallen victim to this investment fraud scheme to immediately come forward and lodge a police report," he told a press conference at Menara KPJ here today.
Earlier, it was reported that authorities found the i-Serve investment to be unlicensed and illegal.
Ramli was reported to have said the investigation found that the i-Serve investment company was operating without approval from Bank Negara Malaysia (BNM).
It was reported that a 'Datuk' who owned shares in a troubled airlines company and his family members have links to the scheme. They were arrested to facilitate investigations under Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.
Subsequently, four more new suspects allegedly linked to the I-serve scam and the airlines were also arrested.