Police have detected a syndicate that conducts fraudulent investment activities misusing the logo of investment and wealth management firm Phillip Capital through the Telegram application.
Bukit Aman Commercial Crime Investigation Department director Datuk Seri Ramli Mohamed Yoosuf said the syndicate offered investment packages from RM500 to RM10,000, promising profits of RM15,000 to RM610,000, as quickly as three hours after investments are made.
“We believe the use of the company’s logo is aimed at deceiving victims and giving the impression that the scheme involved is run by the company in question.
“The company involved has also made a police report to deny their involvement with the investment scheme,“ he said in a statement yesterday.
Ramli said so far, one victim has lodged a report, involving a loss of RM10,370, adding that investigations are being conducted under Section 420 of the Penal Code.
Ramli urged those who have fallen victim to the scheme to lodge a police report.
He also advised the public to conduct detailed checks before participating in investment schemes, including verifying them from official sources such as Bank Negara Malaysia’s Alert List and the Securities Commission (SC).
He said the public should always be vigilant and not carried away by investment schemes that offer too much profit in a short period of time.
“Legitimate financial companies will not promote their investment schemes through chat groups on social media,” he said.
