SEREMBAN: Police probing a scam of non-existent share investment have opened 25 investigation papers nationwide involving losses amounting to RM4.2mil, says Deputy Comm Datuk Ahmad Dzaffir Mohd Yussof.

       The Negri Sembilan police chief said the scheme, offered under the name of one company, had promised investors returns of between 2% and 5% every month.

       “Negri Sembilan police opened two investigation papers earlier this month relating to two cases reported in the state in March.

       “We have so far arrested two bank account holders who are both 44 years old and are looking for more suspects,” he said in a statement.

       DCP Ahmad Dzaffir said a male suspect was arrested in Kuala Lumpur and the second, a woman, in Sabah.

       He said in the first case reported on March 2, a 71-year-old man from Port Dickson lost RM550,000 after being duped into investing in the scam.

       The victim learnt about the scheme via Facebook and WhatsApp and then transferred the cash into two bank accounts.

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       On March 3, a 49-year-old woman here who also came to know about the scheme via social media, lost RM132,688 after she transferred the cash into five bank accounts.

       Both cases are being investigated under Section 420 of the Penal Code which carries a jail term of between one and 10 years, whipping, and a fine upon conviction.

       “Police would like to advise the public not to be easily influenced by schemes offering high returns.

       “Also, before investing, it is good to check with the authorities such as the police or Bank Negara Malaysia, the background of the companies offering such schemes,” he said.

       DCP Ahmad Dzaffir said those who realise they have been scammed should quickly report the matter to the National Scam Recovery Centre hotline at 997.