JOHOR BARU: Police have busted a call centre offering bogus investment schemes and arrested 40 people, says Johor police chief Comm M. Kumar.

       He added that the police carried out a raid at a premise here around 11.10am on Thursday (April 4) for allegedly running a calling centre.

       “Following the raid, police arrested 15 men and 25 women, all locals, aged 22 to 50.

       “Police also seized several items, including 41 computers, 46 mobile phones, one modem and a router at the scene,” he said here on Friday (April 5).

       Comm Kumar added that initial investigations found the syndicate's modus operandi was to promote and advertise its bogus investment scheme "xtrade" on various social media platforms.

       “In their promotions, clients are promised investment returns of between 50% and 100% with a minimum investment of US$100 (RM472).

       “Those interested will call the numbers listed in the advertisement,” he said, adding that the syndicate uses a local registered company as a front.

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       Comm Kumar also said that the syndicate was targeting individuals living abroad as their victims and urged those who have been victims of xtrade investment scheme to lodge a report immediately.

       “We are conducting an investigation to identify and locate victims involved in the bogus investment scheme.

       “The public should be careful when coming across investment opportunities that promised lucrative returns on social media,” he said, adding that the case was being investigated under Section 420 of the Penal Code.