Crime & Courts

Police launch probe into RM1bil investment scam [UPDATED]

KUALA LUMPUR: Police have initiated an investigation into the RM1 billion investment scam involving a local businessman with a "Datuk" title.

Inspector General of Police, Tan Sri Razarudin Husain said the police were aware of the case and had opened the investigation papers.

"I received the information as well about the involvement of a 'Datuk', I have instructed the police to begin investigation," he said in a press conference today.

It was reported that several victims had come forward to expose an investment scam amounting to RM1 billion involving a local businessman with a "Datuk" title who had been operating his illicit activities for more than 15 years.

The Datuk had many tricks up his sleeve including his persuasive ways and dropping names of influential parties in order to lure potential investors to invest in the companies.

The Datuk is reportedly well protected by a Tan Sri who has influence in the government including the police, Malaysian Anti Corruption Commission (MACC), and also the Attorney-General's Chambers to end any investigations against the Datuk.

Razarudin said that the police would also look into the claims of a Tan Sri who was protecting the Datuk.

"When the information is not from us, then we will investigate.

"The victims may claim anything but we will investigate and will not easily jump into conclusions," he added.

Earlier, the New Straits Times tried to get in touch with one of the victims Shah Abdul Malek, a cosmetics businessman, who was conned RM5 million by the Datuk.

A spokesperson to the victim told the NST that the situation remained status quo at the moment.

"We have not received any feedback from other victims so far, we did not get any suspicious calls as well (from the Datuk's side)," said the spokesperson.

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